I find the best setups are the ones I create, not the ones others' use. Try looking through the
RSM and building your own setup.
Do you want Highest Magic defense? Or best Magic defense for combat? There
is a difference.
(best first, lesser last)
For Mage Defense:
Armadyl Helm or Bear Helm (From Mountain Daughter quest)
Amulet of Fury or Amulet of Defense
Fire Cape or Mage Arena God Cape
Armadyl chestplate or Karil's top
Armadyl Legs or Karil's skirt
Third age vamps or Black D hide vamps or 'Barrows' RFD gloves
Seers ring or Lunar Ring
Wizard boots or Ranger boots or Lunar boots
DragonFire Shield(any number of charges = 10 mage def) or Mind Shield or Holy Book
(Depends on why you're fighting what you're fighting)
For Mage Defense for combat:
Neitznot Helm or Slayer Helm or Armadyl Helm
Amulet of Fury or Amulet of Glory or Amulet of Defense
Fire Cape or Cape of Accomplishment or Mage Arena God Cape
Armadyl chestplate or Karil's top
Armadyl Legs or Karil's skirt
Third age vamps or Black D hide vamps or 'Barrows' RFD gloves
Seers ring or Lunar Ring or Slayer ring or Ring of Exploration
Wizard boots or Ranger boots or Metallic boots(Dragon boots)
DragonFire Shield(any number of charges = 10 mage def) or Mind Shield or Holy Book or Book of Balance
It mainly depends on what you're fighting. If you're fighting a slayer assignment then you'll want a Slayer Helmet (not a black mask as those actually have a -3 mage defense). If you're fighting a creature with a Magical-Melee attack then you'd rather Armadyl/Black D hide armor over Karil's(Armadyl/D Hide has better melee def). You also might rather Dragon boots over Wizard boots(D boots give +4 str and wizard boots give +4 mage def).