Just make hallowed armor from beating him 3 times. Then make the megashark. I much prefer the Deadalous stormbow but that's just me
Depends on what style you go. If you're Melee and you have access to Titanium, Hallowed is
not very attractive:
Adamantite/Titanium/Hallowed:
Defense: 50/49/50
Melee Damage: 14%/0/10%
Overall Damage: 6%/7%/6%
Overall Crit Chance: 4%/6%/7%
Melee Crit Chance: 7%/8%/10%
Movement Speed: 5%/6%/8%
Set Bonus: 18% Movement And Melee Speed/Invulnerability Buff/19% Melee and Movement Speed
So when you compare them... they all have identical defense just about (1 point less for Titanium), Adamantite gives you more Melee Damage, and Hallowed barely wins in the Crit (by a mere 3%) and the Melee Speed is only noticed if you are still using actual "swing" weapons (many players switch over to Yo-Yos these days about this point in the game).
This is why I've been saying that Hallowed Armor needs a buff to make people actually care about it. Adamantite gives you:
-Same Defense
-Same Overall Damage
-4% more Melee Damage
-3% less Overall Crit Chance
-3% less Melee Crit Chance
-4% less Movement Speed
-1% less Melee Speed
And is acquired much earlier than the Mech Bosses if you happen to have Adamantite in your world (or don't mind fishing it up).
I honestly can't say that 6% crit, 4% melee damage, and 4% movement speed is worth upgrading when you can just grab the Pickaxe Axe and head over to the Jungle and have a suit of Turtle Armor which is unquestionably superior in about 30 minutes' work digging ore and fighting some turtles.
I can't comment on Magic/Ranged, though... but for melee, yeah... Hallowed just ain't worth messing with.