Meh, it's an utility system, but it seems horribly inflexible. 30 prices for magic items?
Anyway, one of the big 'problems' with the 3.X 'christmas tree' wasn't so much that you'd need a magic weapon. It was that you'd need a magic weapon, magic armor/shields, several stat boosters, rings of protection, cloaks of resistance, and amulets of natural armor, the so-called 'big six'. I somewhat suspect that at least two are removed (stat boosters and amulets of natural armor), and the necessity of others reduced. For example, you need a magic weapon to overcome DR. We have seen no indication that you need to overcome DR in 4E as far as I know, so the need for magic weapons may be reduced (but the damage increase is still welcome). That magic weapons and the like would still be +X stuff was already known from the wand example, of course.