I don't see AOW as being magically dependent at all actually (see below).
I'm of the philosophy that the D&D game characters were designed to be balanced in the absence of magical items no matter what the level. For example: a 14th level rogue without *anything* should be just as playable as a 14th level fighter without *anything magical" and should be able to fight any non-DR-magic monster toe to toe. If MI's were required, then they would be built into the character class (but in concession note the barbarian discussion).
Next, In retooling adventures, there are three simple rules.
1.
Any creature can get a visual makeover without changing it's stats. So, for example, if there is a bugbear or elf, in Hyboria it becomes a neanderthal, savage-tribesman or ape-thing, but I use the same stats. For monsters, this is even easier (just give them a new look and nerf any DR-magic or nerf the SR). How many DM's out there complain that as soon as they describe a monster, their players suddenly blurt out what it is..yea, I don't have that problem.
2.
No scenario is dependent upon it's terrain to be an adventure (I learned this when we "INHERITED" the County of Urnst as our LIVING GREYHAWK region when I was on the Triad...the County btw, is ALL PLAINS HEXES.) Now, the new adventure path is set in a city, but all it takes there is a couple simple name changes. I moved AOW from the swamps of the region of Greyhawk City (Diamond Lake) to the DESERT and honestly it took virtually NO WORK. I turned water into oil in the "Sodden Hold" (renamed Sand Hold), which added excitement to the adventure when the PC's BLEW UP THE WAREHOUSE!!!
3.
No scenarios are written with magical items or class powers in mind. If anything even resembles that hotion it makes a better sub-adventure than if the party already has said item. Ever had PC's run away from a monster? No? Then they're not challenged to have to figure out a differen't way.