(Psi)SeveredHead
Adventurer
I'm just starting a level 13 Knight today -- joining an existing campaign after my old character decided to ascend to "heaven" when given the chance -- and she will have the following:
+3 Farslayer Craghammer (great for MBA-based Knight)
+3 Dwarven Gith Plate with campaign-based unique add-ons; think of it as a very minor Artifact -- designed by me
+3 Seashimmer Cloak
Boots of Adept Charging
2 potions of Vitality
1800 gp
That's it. Seems like a pretty short list by comparison.
There are guidelines for how many items/worth of items you're supposed to have even in 4e. However, you can ignore much of that, especially the details of gp math.
The previous character with oodles of items is probably not broken (in terms of being overpowered) and so the DM isn't hurting their campaign by allowing this, but I doubt the DM was following the guidelines.