All three of Xur's Exotic armor offerings are good, but Armamentarium is a must-have version thanks to its stat roll of 67--that's at the high end of what pops up in Xur's inventory, so take advantage. Gwisin Vest is also up there at 66 and worth acquiring. Even Vesper of Radius isn't a slouch at a roll of 64, so there's a little something for everyone.
For Legendary weapons, however, Xur has nothing to thrill you. His Timelines' Vertex fusion rifle is decent with Liquid Coils, Firmly Planted, and Snapshot Sights, plus a Range Masterwork, but that's only if you're hurting on fusion rifles. Everything else you can safely ignore.
Xur has the Righteous armor set from the Season of Dawn for his Legendary armor offering this week. Again, not a ton to get you out of bed, although Hunters can grab a good set of leg armor with a roll of 65 and high Intellect and Titans will find a smattering of items around 62-63. Warlocks get the short-shrift here, with only one piece of armor, at 63, high enough to even be worth considering.
Spawn in at the Winding Cove transmat zone in the EDZ to get to Xur quick this week. You'll find him at the north end of the area, so take your sparrow up the broken overpass until you're near the rock wall bordering the area. Look for a cave set in the wall near the road's bend that will allow you to make your way to the top of the cliff, where a Fallen skiff is crashed. Beside it, Xur will be waiting.
Xur is present every weekend in Destiny 2, starting with the daily reset at 9 AM PT / 12 PM ET each Friday. His exact location is always a mystery when he first arrives, as he is not listed on the map, and for novice players, he can be easy to miss. However, there are a set number of locations where he takes up residence, including the Tower Hangar area, on Nessus in Watcher's Grave, and in the Winding Cove area of the EDZ.