questions

What exactly is freak builds?

most often it refers to bots that use certain gear to boost their stats to a point to equip a certain weapon, then they remove that set of armor and equip the armor that gives the most +str they can in order to purchase/equip even better gear, once this final set of gear is in place their stats for some of the armor and the weapons do not meet the requirements

To add to Shoe's post, a very basic form that you can do at a low level is the magical twitchthroe. It gives +6 str, +6 dex, -8 con and relatively low armour. It's not a good piece of armour to fight in, however, say you have 54 strength and dex. You buy a twitchthroe, now you are 60 str/dex. You now buy Scarab Blades, and then swap your twitchthroe for a greyform, putting you back down to 54 str/58 dex. Leaving you with better weapons than you can equip (freaked) but none of the negatives of those "freaking" armours (aka +4 con instead of -8 con)

very good example mr. fish :)

i want to also take this time to encourage ender to change the name of twitchthroe to 'the magical twitchthroe'

I agree, it is magic in other areas besides freaking :)