Best (cheap) DMG Magic Item

[Jack Haggerty]

A grey dull ioun stone with continual flame cast on it. Always handsfree light, for just 105 gp

Right...

An Everburning Torch (essentially a stick or a metal rod with Continual Flame) is only 90 gp standard. My halfling Rogue/Wizard bought one at first level using some bonus starting cash (funds from the museum he worked for). Aside from his Heward's Handy Haversack, it has to have been the most useful magic item the has.

That dull grey ioun stone is a great idea, though.

 

[Wicht]

In real life I think the Ring of Sustenance would see quite a bit of use. An army wearing these would be virtually unstoppable.