That all sounds good, but...
I wonder how players will adapt from the 3e/4e model of getting magic items early and often, to the 5e model of getting them only occasionally? I can see that causing a lot of strife.
I will likewise be very interested to see how they balance a game in which the default assumption is that you won't have items, those items will make you strictly better, and, in reality, every party will have some undetermined amount of magic to hand.
The 3e model for magic weapons, where they were built by selecting powers from a list was not the problem. The problem was that the DMG (and later the 4e PHB) became a shopping list. Switching to a model where every item is a custom item does not make magic items inherently cooler (since a flaming long sword +2 amounts to the same thing whether the DM builds it from a list or rolls that specific item), but it does make it that bit harder for the DM to go "off book". Of course, it also allows WotC to sell that big book of magic items... (The key to making magic items cooler, FWIW, is to not let the players see the details of the magic items.)