You can only imbue properties that you would normally get from using a runic kit, so for armour your pretty much limited to LMC,LRC, MR/ST/HP regen, hp/stamina/mana increase, reflect physical, and increase resists. I think that if you do woodland armour you can imbue then enhance with hearwood and there is a chance of getting 5% HCI, but the odds of breaking the piece is pretty high and can get pretty expensive.