I'm not sure of your point, Aramax -- are you saying there should be more "sense of wonder" when a player earns a +1 sword, than just a math discussion? I agree -- but there needs to be a carrot instead of a stick to encourage that "sense of wonder". It's 40 years into RPG gaming -- not only is a plain bonus kind of a "been there, done that" sort of thing, but it needs to be something that is mildly game-breaking, and something you can't get anywhere else in the game. The more you can buy those kinds of bonuses regularly, though equipment or through feats and abilities, then the less special they are, no matter how much someone says they should be.
Want magic swords to be special again? Make them game-breaking, just like they were under AD&D. There weren't many ways to get that kind of bonus, so same logic applies.