So, let me get this straight.
All of you believe that when a spellcaster makes his own items, they cost against him at half value.
If this is true, then a 10th level spellcaster would be able to carry around 132,000gp worth of gear, while a 10th level fighter would only be able to carry around 66,000gp worth of gear. Likewise, a 20th level spellcaster would be able to carry around 1,520,000gp worth of gear, while a 20th level fighter would only be able to carry around 760,000gp worth of gear.
However, according to the character wealth guidelines, a 10th level wizard with approximately 132,000gp worth of equipment, is actually equal in power to a character between 13th level (110,000gp) and 14th level (150,000gp). Seems a little funky to me. In fact, he would have enough gear that he would be more powerful than the rest of his party. That's a bit odd.
But of course, he spent the feats and the XP, so it makes perfect sense that he would have the power of a character 3 to 4 levels higher than himself, thereby exceeding the power levels of his party members.
...I don't think so. That just doesn't make sense to me, no matter how many feats he selected or how much XP he spent.
Now, I've seen the arguement that if a spellcaster creates a 2,000gp magic item, not only does it only count against him at half cost, but if he gives it to a fighter, it still only counts against the fighter at half cost because the spellcaster made it for him. The problem with this, of course, is that every single magic item in DnD was made by a spellcaster, so technically, every single magic item would only count at half cost, no matter who used it. If the spellcaster made the item for his friend in the party, would it still cost half? And if he made the item for someone purchasing it from him, would it count as full? Nah. That would imply that items made for friends are always half cost, though they count full against everyone else.
...Naturally, I don't buy this argument.
Here's another one for ya. A spellcaster has 10,000gp in coin to his name. He then creates a magic item worth 5,000gp. He has 5,000gp left in coin and a magic item that only counts against him at half cost. His total wealth is now 7,500gp. Wow. Look at that. He suddenly has another 2,500gp of wealth to work with. Later on, the spellcaster gets a hold of another 5,000gp in coin and he uses it to make a 5,000gp magic item. He only spends 2,500gp in coin to make the item. His wealth is now 10,000gp in raw coin(back to what he started, and he's still the same level), he possess 2 magic items that total 5,000gp, so his total wealth is 15,000gp.
So, spending money makes you more money, but only if you are a spellcaster, making your own stuff. I don't buy this either.