Magical socks and underwear might make your role playing experience better, but not mine.
A statement made out of total and utter ignorance.
Aside from an extra item or two at 1st level, as Sean K Reynolds pointed out, NOWHERE does it say that characters should get more magic items then in standard D&D. NOWHERE. Can you point out where it says otherwise? Can you point out where it says that Forgotten Realms characters are supposed to have double, triple, quadruple, etc the number of magic items than in a standard D&D campaign?
You can't because such a statement doesn't exist. Nowhere does it say in the Realms rulebooks that characters are supposed to have an unending supply of magic items, as you imply with your statement. As Sean K Reynolds also pointed out, NPC's in 3E are constructed with equipment equal to what a normal character of that level would have, as presented in the DMG. As such, Artemis Entreri for example has no more than any other standard 18th level character.
Try to get some actual FACTS before you bash something.
And for those who think no role-playing goes on at higher levels, you may want to read a thread in Story Hour called "Lady Despina's Virtue". High level and powerful characters, yet most of the game has involved heavy role-playing on the part of the characters. Hell, in all that has been posted so far, there hasn't been a single combat. Munchkin, indeed!