StreamOfTheSky
Adventurer
1e is a whole different beast than 3e when it comes to magic items. 1e magic items were priced according to the percieved utility of the item, and because Enchant Item and Permenance were so high level (to say nothing of Wish, which was implied to also be a common requirement), they were generally nigh impossible to manufacture. The practice of making magic items freely available for purchase was highly looked down upon, and so if you found something it was usually off a random table or becaues the DM placed it. In either case, it was only there if the DM was willing to accept the results of having a ring of invisibility in his game. Magic items were considered the exclusive territory of the DM, and so much a perusing the DMG when you weren't the one running a campaign was considered bad form.
All 3E changed was making the rules more clear and uniform. Or actually putting rules in place where once an issue was handled solely by DM fiat. If you don't want PCs able to buy a magic item, don't put it in a store! If you don't want them to be able to make the item for themselves, don't give them the lengthy downtime it requires to make said item! If you just plain don't want the item to exist, ban it! You're the DM for crying out loud! No edition changed that.
3e is different in every regard. PC's are empowered to create their own items and can do so easily at low levels using readily available commodities (feats, spells, XP, and gold) rather than an unknown or even unknowable list of random hard to obtain items combined with spells which required major sacrifices to cast and were generally not obtained at the usual levels of play anyway. Many campaigns readily accept the notion that gold is freely tradable for any item of the player's choice, and PC's generally have the equipment that they want when they want it and even plan out what equipment that they plan to have at a given level.
Again, that's a campagin style decision of the DM. I've been in 3E games where the party had NOTHING. Like, we were frantically grabbing at shackles that had previously held us captive just to have some sor of weapon that could deal lethal damage. Seriously nothing. I've been in others where there truly were magic Walmarts for anything you could desire. And I've been in lots of in between those extremes. Either extreme can work, or fail miserably, depending on how well thought out the DM's approach is. In the slave game example, it didn't work out too well, because he was shocked his changes unevenly hurt Fighters (though the Wizard was the most hurt; not even a spell component pouch nor spellbook = "That's why you had to make him as an NPC, none of us wanted to deal with that




There are numerous problems with both models in my opinion, but the biggest single problem with the 3e model is that is 'one size fits all' system for pricing magic items does not in any fashion take into account the actual utility of the item. For a game that prides itself on balance in a way that 1e did not this is an amazing oversight.
The DMG is pretty clear that the table for magic item pricing is a guideline. Not much to say beyond that. Other than that if you look at the specific DMG magic items themselves, it's obvious in many cases that they didn't exactly follow said guidelines themselves.
In fact, I would go so far as to say that the 3e item creation rules are the least balanced and most abusable part of the system, which makes it amazing to me that they escaped as much scrutiny as they did. A 3e ring of invisibility is priced as a relatively minor item. This suggests all sorts of major problems with the system.
By the time you can reasonably be expected to afford a ring of invisibility (keeping in mind that until then, you've been saving up a wad of cash and been significantly weaker than a hypothetical similar PC who spent it as he got it), you could have just been say...a Pixie... and had at will GREATER Invisibility anyway. Probably for a few levels prior to getting the ring. The ring of Invisibility isn't undervalued. You just overvalue it. It's a level 2 spell, and lots of monsters can use it by the time you get the ring. As can the caster use it (or buff with it) for many levels by then. If you want a lower magic setting, limit the levels by playing E6 or E8, severely nerf casters and eliminate most magic items, or do something along those lines. Otherwise, accept that the game is no longer "grim and gritty" after PCs reach level 6 or so and that the game has different tiers of power levels. Also, as a Rogue who eagerly used the Ring of Invisibility in a game as early as he could get it -- level 8-9 in his case -- it's really not THAT amazing. You get one atack off. And then you get the attention of all the enemies and they make you a priority target before you can go invisible again. Fun. Or if they're smart, they toss a homing spell like Spiritual Weapon, or a covering spell like Glitterdust (or even mundane flour, dirt, etc...) something to leave a trail for when you go invisible... You also still have to make the Move Silently checks or they can generally know the square or area you're in.
My general rule (ie, it's just "a guideline," like with item creation tables

One of the single most abused spells in the games history and one of the most frequent complaints about the 1e system, not only by me but by players generally. The biggest problem here is the 1e version of the spell had unlimited duration. So long as you didn't attack, it was permenent. And as a 2nd level spell, it came up almost immediately in a way that much of the brokenness of the game never did. What made the problem even worse is that 1e didn't have a well thought out system for dealing with invisibility the way 3e does. There was no concept like 3e's 'Scent' ability, and the table for detecting an invisible foe wasn't really easily integrated with 1e's concept of attributeless monsters.
Yes, 3E has a lot of counters for invisibility in the system. And at higher levels, high Hide checks actually are arguably more useful than invisibility, as spells like True Seeing become almost ubiquitous and render magical hiding worthless.