Eyes of Nine
Everything's Fine
You really have to understand the problem that rarity was intended to solve:
In the original design of 4e you had limited uses of item powers per day. The idea was to allow players to have quite a variety of items with powers, but for that to not result in an endless parade of power uses. It wasn't a bad thought but it was fatally flawed. The problem being every player hoarded their 3 daily power uses. Designers COULD have made more items with Surge powers, but they didn't (AFAIK only a few potions have this). Even if they did, nobody can afford to pay that price very much. So the upshot is, any item power which is too good to allow to be encounter or at-will, but not exciting enough to burn one of your 3 hoarded uses on (or a surge) is effectively non-existent.
The result of this is that a lot of items are simply trivial, because their powers are weak enough to use constantly, or because they are simply never used since their powers are too weak to be worth a use slot. It was however, impossible to get rid of these slots because some items are lower level (and thus you could make tons of them) and yet their daily powers are pretty good. For near-level items it isn't a problem, treasure parcel availability restricts abuse, but it is a problem in a slotless game for these certain items (there are actually quite a few).
So, the solution was to do away with slots, but also to restrict item creation. This actually works fine if you have a GM who is a bit flexible. PCs can easily find/research/quest for/buy formulas for specific 'rare' or even 'very rare' items and then craft them. This does allow the GM to put a foot down on abuse though. Items that would break the game if used over and over just don't have formulas you can get, others do.
I also found Daily powers rarely used :-( It is one of the fatal flaws of 4e, and if I ran again I would adjust the AED power economy somewhat.