I swear, some of you people have the most ridiculous expectations. No more stat boosting items is a MAJOR change and will go a heck of a long way towards reducing the Christmas tree effect.
Seriously people, this is D&D. Since 1st edition magic items have been a part of the game. D&D wouldn't be D&D without +X Swords and +X Armor. You cry that the game is moving further from its roots, but now you cry its not moving far enough away. They can't win.
Seriously, if you have a problem with +X Swords and Armor, then not only is 4e NOT your game, no edition of D&D really is. Magic items are an iconic part of the D&D experience and have been for 30 years.
The problem with 3.5 was not magic items per se, it was the preponderance of stat boosting items and the fact that a plethora of magic items were all but required at higher levels. Now, other than weapon/implements and magic armor/clothes you NEED NO ITEMS! But cool and flavorful items are still a part of the game. Just mostly optional.
This is a vast improvement and an excellent change. Once again the 4e designers have proven their brilliance. 4e is shaping up to be the BEST edition of D&D EVER. Period.
And I haven't even seen the book yet.