Why would you give your pet a 7 ratio weapon? you'd be better off with rusty short swords, or splintering clubs. Actually, in my opinion, the best (for cheap, low level characters) pet weapons are the blacksmith made forged weapons. Longswords, or ******* swords (if you can afford) produce great damage from pet.
Well if they take those smithed weapon, there pet wont be able to domage magical creature like those Whillow Wisp :) and those wisp are kinda best exp and drop ratio found at that lvl for a non twinked char. Think about the fact that there is still newplayer coming to play EQ :).