Morkus from Orkus
This. The campaign I'm running has 4 PCs of 6th level. There are 2 +1 weapons, 1 +1 wounding weapon, 1 cloak of elvenkind and 1 pair of slippers of spider climbing. Potions and scrolls I hand out much more frequently.I don't hand out much magic. At 6th level only 1 PC has 2 uncommon items everyone else has 1. I'm more likely to hand out consumables.
Eventually I'll upgrade existing gear if it's a weapon or armor. I don't plan on ever giving anyone a +n shield.
The major difference I think is that I don't care about rarity. Since I'm giving out fewer items, I don't mind them being good. I feel that magic should be magical.