What they need to do is basically make it so you get like, mostly really cool loot. Like, if, in Diablo 2 terms, most items were a Rare (Yellow) or occasionally Unique (Pale gold).
D4's loot experience is dire and D3's wasn't much better. You just throw 98% of the loot straight into the trash compactor, as it were.
But D1 and D2 weren't like that, and whilst you got too much loot for a pen and paper game, the general vibe I think could be replicated well.
(I actually think you could make a kind of excellent random armour/weapon loot generator for Daggerheart of all things, if you willing to accept some minor balance issues. I might consider doing that if very bored. Everyone in my group is away for August so no DH for a while so maybe I will hmmm.)