CoP Possessed non-weapon fighting

I'm making a possessed warband and want to make sure I understand the rules right.

I just finished reading a short thread in Rules & Gameplay that suggested that a Possessed, which cannot wield weapons, fights with its natural weapons but does not incur the penalty of the "fists" rule, under the "zombies and creatures exemption."

Do I have this correct?

That is indeed correct. Also note that while they cannot use weapons or armour they can use weapon-like and armour-like equipment. For example, in the RAW Toughened Leathers are technically equipment and not armour. Likewise, the Firebomb is technically a piece of equipment and not a weapon. Although legal in a RAW kind of way, some groups may allow this, some may not - YMMV. Some groups (mine included) house-rule Toughened Leathers to be a form of Light Armour.

Lucky charms are in the base rules and are not even slightly dubious to give to a Possessed.

rope and hook possessed

Oh totally. Every hero should have a rope and hook - it should be the first thing you buy all your heroes. I don't know anyone that doesn't get one for all their heroes after the first game if they have the money.

thats right. its totally underpriced

Given how much other things cost, I think 5 gold is close enough for a piece of rope with a hook on the end. A hook takes less iron and less smithing to make than an axe does and 5-4 meters of rope can't be much more than a few silver.

If you want its gold price to reflect its utility then really what you should be doing is make pieces of equipment in Coreheim have two values. One is the gold cost and the other is how much the piece of equipment adds to your warband rating. Or just make it that each piece of equipment adds one point to your rating and rope has a rule that makes it count as two or three items or something.