Treasure! The thing we noticed playing through ToEE and other 1st ed stuff is its positivly littered with magic and mundane loot. A rule of thumb we've come up with is down grade coins by one step (platinum becomes gold, gold becomes silver etc.) and ignore all +1 & +2 magic items and reduce all others by -2 (a +3 sword becomes +1 for example, unless they do something else too (so a +2 flame tongue becomes a +1 flame tongue.). On top of that just plain remove about half the magic items completely (unless they are consumables, healing potions, scrolls and the like).
a Playtest of the DMG i saw suggested magic armour and weapons should only come to players in the second tier of play, around levels 5-8 and even then they are rare.
of course, when the actual DMG comes out this will all be a lot easier.