I hate to get too Paul Graham-y on you, but it depends if this person is genuinely interested in your problem. 1-2% equity isn't going to solely motivate a talented engineer because that's unlikely to convert into life-changing money.
Agree. If we're talking about investing a huge chunk of my life on someone else's startup, a chance at life-changing money is just about the only thing that will do. %1 diluted in 2 follow-on rounds sounds good if we're talking about a chance at a very large exit, but otherwise you've got to be kidding.
