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The Shapechange spell is a bit of a difficult case... as is, it is somewhat useless, if you have to leave all of your equipment behind (like that 100kĄ 32 Karma Power Focus ). OTOH, it would be a bit too good, if you could take it with you and still use it.
I agree that as it is, it is not as all-power as it might be. I think as a GM I would oppose characters attempt to keep the power without the limitation. So for instance if you had a variant in which your clothes went with you, I would remove the benefit of buffing physical stats.
I'm just now designing a character based around shapechange, and the equipment carrying limitation is my main problem. I like the problem though: Shapechange is an awesome spell, buffing all physical stats (often by huge amounts) and provides a large amount of utility and stealth. I have designed the foci I carry to be transportable with most forms: my foci are elasticated jewellry (bracelets, dog collars, ankle chains. I also plan on using fashion to manipulate the clothes (probably into panniers /barding / a bundle to be carried) for large forms, and I have physical mask for those embarrassing moments when I arrive naked at the far end. I suspect that in practice I will only be able to transport equipment (other than the foci) around about half the time, so I have had to make sure that the character is useful while naked.
The hardest challenge for me actually is how I carry my shades around: what sort of cool shapeshifter with the fashion spell would turn up without the shades, I mean clothes are optional if you are good enough looking (that's what glamour is for), but shades are essential: this is shadowrun after all. Perhaps I can buy some cool memory alloy ones, which changes shape them self: I'm sure that tiger can wear goggles after all.