Ambition-exclusive gear

Is gear obtained via an Ambition lost when changing Ambitions?

Also, I’m on Nemesis, and I find that the items I’m getting are very good, almost as good as the best the Bazaar has to offer. I’ve outgrown all them though, but then again, I have the best the bazaar can offer.
For those curious, here’s what I got as I advanced through Nemesis:
[color=#ffffff][ul][li]Myriad Keys (Dangerous -2, Persuasive -4, Watchful +4, Shadowy -4)[/li][li]Blooded Knife (+3 Dangerous, +1 Dreaded)[/li][li]

I think I read on some wiki that the answer is positive - you lose all gear and Ambition-related items when you switch. By the way, Heart’s Desire totals [color=rgb(255, 255, 255)]a Cardsharp Monkey (+2 Watchful, -2 Dangerous and Persuasive) and some spare First City Coins[/color].

Light Fingers gives a [color=rgb(255, 255, 255)]Drownie Song of the Deep (+4S -4P -4D -4W) and an Everlasting Candle (+2W)[/color]. Bag A Legend seems to be the most equipment heavy, with a [color=rgb(255, 255, 255)]Deafening Hat (+1D +1P -3W), a Vake-Killing Club (+2D -1W -1S), a Spiked Rosary (+3D, -1Nightmares) and a Half-Wild Mandrake (+3D, -3P, -3S, -3W.)[/color] The lattermost can optionally be discarded, but only at one missable point.

I threw away my Mandrake and was sad when I saw how that turned out :(

Is it just me or does Heart’s desire end up seriously shortchanged by this as far as game mechanics go, in terms of the levels of bonus?

Yes. Likely because it’s the most popular. You used to be able to get a Tiny Cave Fish from giving Warm Amber to a Rubbery Man in exchange for First City Coins. I tried to do that a number of times recently but no dice so I suspect it has been removed.

There are a few other Heart’s Desire-specific items, but they are not gear/cannot be equipped. I like having “On the Maladies of Goats, volume 1” - though I do wonder where one could acquire the remaining volumes. ;)

Perhaps the Overgoat ate them?