Here's a list of runewords and gemwords, I wont tell you what they do, but names should be enough of a hint. All old runewords still exist. All words will work in normal, magic, rare, and unique items. 

New Runewords 

Storm: Staff/Orb - Lum+Ort+Aura Topaz 
Tempest: Sword/Scepter/Holy Blade - Pul+Ort+Eld+Aura Topaz 
Oath: Hammer/Scepter/Holy Blade - Aura Skull+Amn+Hel+Ohm+Zod 
Hatred: Weapon - Gul+Lo+Ohm+El+Fal+Aura Amethyst 

Gemwords 

Aim: Helmet/Armor - 2-6 Of the same grade Diamonds 
Mog: Helmet/Armor - 2-6 Aura Diamonds 
Divine: Weapon - 2-6 Of the same grade diamonds 
Alexander: Weapon - 2-6 Aura Diamonds 
Kalseru: Shield - 2-6 Of the same grade diamonds 
Carbuncle: Shield - 2-6 Aura Diamonds 
Powerful: Helmet/Armor - 2-6 Of the same grade Amethysts 
Eden: Helmet/Armor - 2-6 Aura Amethysts 
Accuracy: Weapon - 2-6 Of the same grade Amethysts 
Gilgamesh: Weapon - 2-6 Aura Amethysts 
Bassilisk: Shield - 2-6 Of the same grade Amethysts 
Brothers: Shield - 2-6 Aura Amethysts 
Nimble: Helmet/Armor - 2-6 Of the same grade Emeralds 
Chocobo: Helmet/Armor - 2-6 Aura Emeralds 
Toxic: Weapon - 2-6 Of the same grade Emeralds 
Doomtrain: Weapon - 2-6 Aura Emeralds 
Tatzwurm: Shield - 2-6 Of the same grade Emeralds 
Tonberry: Shield - 2-6 Aura Emeralds 
Hearty: Helmet/Armor - 2-6 Of the same grade Rubies 
Diablos: Helmet/Armor - 2-6 Aura Rubies 
Flames: Weapon - 2-6 Of the same grade Rubies 
Ifrit: Weapon - 2-6 Aura Rubies 
Salamander: Shield - 2-6 Of the same grade Rubies 
Cerberus: Shield - 2-6 Aura Rubies 
Starfall: Helmet/Armor - 2-6 Of the same grade Topaz 
Moomba: Helmet/Armor - 2-6 Aura Topaz 
Electrified: Weapon - 2-6 Of the same grade Topaz 
Quezacotl: Weapon - 2-6 Aura Topaz 
Mehen: Shield - 2-6 Of the same grade Topaz 
Pandemona: Shield - 2-6 Aura Topaz 
Rebirth: Helmet/Armor - 2-6 Of the same grade Skulls 
Phoenix: Helmet/Armor - 2-6 Aura Skulls 
Death: Weapon - 2-6 Of the same grade Skulls 
Odin: Weapon - 2-6 Aura Skulls 
Whiro: Shield - 2-6 Of the same grade Skulls 
Cactuar: Shield - 2-6 Aura Skulls 
Intelligent: Helmet/Armor - 2-6 Of the same grade Saphires 
Siren: Helmet/Armor - 2-6 Aura Saphires 
Frozen: Weapon - 2-6 Of the same grade Saphires 
Shiva: Weapon - 2-6 Aura Saphires 
Tiamat: Shield - 2-6 Of the same grade Saphires 
Leviathan: Shield - 2-6 Aura Saphires 
White Mage: Weapon/Helm/Armor/Shield - 2-6 White Scarabs 
Blue Mage: Weapon/Helm/Armor/Shield - 2-6 Blue Scarabs 
Yellow Mage: Weapon/Helm/Armor/Shield - 2-6 Yellow Scarabs 
Beast Master: Weapon/Helm/Armor/Shield - 2-6 Green Scarabs 
Gold Warrior: Weapon/Helm/Armor/Shield - 2-6 Gold Scarabs 
Dragon Wizard: Helm/Armor - 2-6 Dragon Hearts 
Dragon Warrior: Weapon - 2-6 Dragon Hearts 
Dragon Priest: Shield - 2-6 Dragon Hearts 
Queen of Eyes: Weapon/Helm/Armor/Shield - 2-6 Deadeye Gems 
Lady of Magic: Weapon/Helm/Armor/Shield - 2-6 Magic Tabs 
Chaotic Magi: Weapon/Helm/Armor/Shield - 2-6 Chaos Stones 
Holy Guardian: Weapon/Helm/Armor/Shield - 2-6 Holy Crosses 
Lord of Steel: Weapon/Helm/Armor/Shield - 2-6 Steel Barrings 
Protector of Life: Weapon/Helm/Armor/Shield - 2-6 Life Leaves 
Spike Destroyer: Weapon/Helm/Armor/Shield - 2-6 Siked Coral