I used to tailor all of the treasure in my games... Thus far, since I've started running 3e, I've been using adventure modules and giving whatever the adventure module specifies.
When I run the occasional random encounter, or whatever, I roll for treasure. I generally roll for each item twice and give them whichever item seems like it would be more useful to them.
I don't see a need to tailor treasure quite as much in 3e, since the party can usually sell whatever they find and either make or commision the magic items they really want.