Offhand slot for a torch (maybe made by combining a piece of firewood and a piece of coal on the crafting table), which you would ignite by going up to some other torch and clicking on it (maybe hold down the scroll wheel and left click to ignite).
Well. the current version is "Hold in your hand"
It's been suggested/planned/discussed for the "equip" one and I assume that just means the next version (content version) will have it
along side flails and the beginnings of some other things... ( think tax... Alloys and handles might also been in that too.. maybe.. I dunno. we'll see what all can fit nicely when we finally see a stable update/release for the next content version (Content version like "0.0.9" like how this is "0.0.8" with the additional version/hotfix/etc being "x.x.x2"))