Educate me: Does the inherent bonuses system somehow reduce the total number of magic items in the treasure parcel system (or Essentials variant), or do you still hand out the same total but none of them need be Weapon/Armour/Neck?
While it's recommended that treasure is reduced in the inherent bonus system, it's not at all necessary to do so: all it does is provide a minimum enhancement bonus that's handed out to each character. If you run at full magic items and hand out party appropriate stuff, the only differences you will notice are:
1. People with crappy gear won't be hurt too much by it.
2. People won't spend money using the enchant item ritual to bump the plusses on items with good properties, because it's effectively done for free.
3. People won't pick up items with crappy properties unless they have a bonus that is a tier ahead of them: ie - a level 11 melee rogue will be unlikely to pick a +3 phasing dagger over anything he currently owns. However if he sees a +4 phasing dagger, he might reconsider.
Basically it eliminates choosing between crappy and less crappy treasure. So as DM you need to provide choices between good and better treasure. Which, lets face it, are the fun choices.
Raistlin and Zaran: your problems aren't with player entitlement, they're with the fact that much of the magic item list is pretty crappy, full of situational daily abilities and properties that make little to no difference even in the narrow scenarios where they might be of use. Littered across this landscape of blah are the occasional standouts that everyone wants.
The inherent bonus system is great for making magic more special, because it stops players from expecting that they'll get a new magic item for a slot every N levels. You can't really call that entitlement - the game specifically says to do it.
That said if you go around handing out sunleaf armor to a party who's seen deathcut, no one is going to be impressed unless you pair it with a lot of radiant-inflicting encounters and undead with threatening reach who don't deal necrotic or poison damage.