Great concept, critical flaws
This really is a fun game that you want to finish and win, but the money is too difficult to earn and/or the items to upgrade are too steeply priced.
The combat mechanic is great, and easy to learn. Some opponents are better with their shield than others. Bad news here is that each 'generation' that goes by, unless you have top equipment, you can't keep up with their damage. I also noticed that the upgrades don't actually increase your speed/strength/damage hardly at all!
When I gave up, my armor, helmet, and lance were all different pastel shades. How about you pick your knight's colors, and all the armor you buy becomes that color? That way, there aren't knights who are pink, lilac, and baby blue?
Finally, the XP system needs changed. This system forces you to waste money on slight upgrades (that cost a bundle) just to keep earning XP! Is there any stat benefit to leveling up? If you get great equipment or items you like ASAP, you stop earning XP once you've mastered them.
Like I said, great concept, but some serious adjustments need to be made so it's playable.