Crothian said:
I'm all for game balance and I know that any DM worth his pay can easily handle this situation without the PCs ever knowing he is doing this. It's just people are using this guideline as a hard fast rule and using a feat to craft items to get around the rule they have made hard fast. Besides, keeps the boards lively and all that.
The bottom line is this: Manage the party's wealth or don't. If your 10th level party is capable of destroying 10 Balor's, then there's probably something wrong, unless you just want them to be able to take out 10 Balors. If your 10th level party gets slaughtered by goblins left and right, then there's probably something wrong, unless you want them to get slaughtered by goblins left and right. If you don't have any problems, great.
I don't see the wealth limits as a hard and fast rule, like many people think I do. For instance, if you're half way to 10th level, I'll let you have the wealth of a 10th and a 1/2 level character, meaning I give you half the increase you would get for being 11th level, then the rest when you level. Sometimes, wealth isn't a big factor, such as with quest items, or a few meager potions here and there.
I generally run my games at a certain difficulty level, what I like to call the "default DC" of the game. This level of play only requires you to have so much gold. Sometimes, the difficulty of a quest increases dramatically and you are allowed more gear. If your gear doesn't make you more powerful than you should be, I don't have a problem with it. If it does make you more powerful than you should be, I have a problem with it, but only if you are overshadowing the rest of the party.
Wealth is a dynamic thing that can change over the course of a game. It just doesn't change very often in my games.