If anything I almsot want magic to be more common, well at elast in a way. i like item creation, I just wish utility, public good/massive works were more feasible. I want to enter a metropolis with imposible high thin towers suported by amgic, giant floating gardens, hover carts, etc. On the other hand I find t disturbing that on the individual level a PCs CR is so wrapped up in your equipment. For me the fix would be that Pcs at higher levels could pull off more supernatual levels of abilities so their +3 sword looks less cool in comparison. IOW you get much more umph out of your class abilites so the difference between a fihgter loaded with amgic gear of level 15,a nd ne with only mundane equipment is much less signifigane, cause the fighter can leap so high flight means crap, he can hit so hard a +4, flaming sword adds little to the damage etc.
But hey earthdawn is one of my favorite systems.