I currently have the hilt and the pommel jewel of the equaliser but am missing the blade.
I only have the shaft of the wave and haven't got a clue how many bits there are for it and where they are.
I don't know whether anyone else is having the same problem but Baldurs Gate 2 gets pretty jerky on my computer. Its a pentium 600 with a ge-force graphics card and a sound blaster live card, it has 128MB of RAM as well and I've done a full install of the game. A similar problem of jerkiness also appears in the first Baldurs Gate.
Also before you ask I'm not German its just the name of my Character!

Blade of equaliser is in the underdark. It´s on one of the elder orbs in the place where are many beholders (south-east corridor, if I remember right). The Wawe contains two parts and the its blade can be found from the rebel prince in the uneder water town.

I remember going into a round room with a beholder and elder beholder and they were impossible to kill. Is this the place you're on about because then I'll have to go back (if I can) because at the minute I've killed the master brain in the illithid combat arena.
I had to give up you see because they kept on blowing everybody up(normally involving turning my group leader into stone).