Being stuffless is supposed (according to some folks whose opinions I respect) to reduce your CR by about four... Personally, I have trouble seeing how an unarmed, unarmored PC can do much, ESPECIALLY against a DRed opponent, but... there it is. You can try it, and see what you think.
As for me, I have adopted another method, and had no problems with it. Here is my solution.
I did not eliminate magic items, especially potions & scrolls. Permanent magic items became rare, but still exist. Finding any is still a problem, though.
Instead, as the PCs go up in level, instead of getting magical gear, they can develop their own magic. Instead of killing an enemy and taking his +1 sword, a PC can spend 2,000 GP going through the required ceremonies, and any MWed weapon he wileds will become magical...
He draws his MW Two-Handed Sword, it becomes magical. He sheathes it as he moves up, drawing his bow, and it (and its arrows) become +1. If he has Improved Unarmed Strike and is surprised without a weapon in hand, he can attack with his +1 fist (or both, if he has TWF), ASSUMING...
Note, here, that a +1 magic weapon costs 1,000 GP, plus MW costs, plus weapon cost. I made it 2,000 GP because it works with ANY weapon, AND because someone with TWF will gain the bonus to both, AND because (unlike typical magical weapons), it can't be taken away!
Also, the surprised Fighter, above, attacking with his fists is in for a nasty surprise, as they are NOT MW (a Monk doesn't have that problem). If the PC pays 1,000 GP extra (twice the 500 GP MW Cost), then ANY stick he picks up is a +1 Club, and his fists are +1 magic weapons, as well. If not, only MW weapons become enchanted.
As levels increase, additional abilities can be added (no magical abilities can be added to weapons until they are +1). If the Paladin who has previously spent 3,000 GP making any weapon he wields +1, then he can spend twice the book price to make them all Holy, as well. If he dual-wields a Handaxe with his sword, and wants to make it Returning, as well, then that costs normal price (as it doesn't work on most types of weapons, so the cost isn't doubled). With a little care on the price, the weapons problem is solved.
Want to overcome the "Golfbag of Weapons" problem, Casey Jones? Spend twice the 500 GP MW cost, twice the 1,000 GP +1 cost, and add in twice the Adamantine, Cold Iron, and Silver costs, as well. The only things that can stop you now are Alignment differences. You can buy the ones you want for double price, straight from the DMG, or buy (for example) Anarchic & Axiomatic at the normal price (since only one applies at a time). Myself, I wouldn't allow a Paladin to wield an Anarchic/Evil weapon, nor a CN Cleric an Axiomatic one, but a little Common Sense (which is really sense about common things, and not really all that common) goes a long way, here.
For armor, again, you can pay 1x the MW cost for the most expensive suit you want it to apply to, or it will only work on MW suits. Then pay 1x the +1 magic armor cost, and any (MW) armor you put on will be enchanted. Same with shields and shield enhancement bonuses.
Now to all the other stuff... Some GMs feel like adding to the costs, because the "items" can't be taken away. I don't, as most of them just aren't all that useful. Double cost is just too much, IMHO. Maybe +10%, or something, if you must. Also remember that, unlike magic items, you can't sell off this type of bonus, either!
Anyway, if a Druid is going off into the desert, and wants a
Decanter of Endless Water, he can get himself a bottle, or whatever, and pay the same cost, and have any (MW) bottle act as one. He could even pay the MW & Natural Armor DMG prices and make his own hide naturally armored, then pay the Enhancement Bonus prices on that, and use the higher of his/his shape's NAB, and add the Enhancement Bonus, in any case.
Saving throws? Pay the price of a (magical!) Cloak/Ring, and Presto! Going up against Aberrations? Add the Bane property to your weapons.
Single use items (Arrows of Slaying, Beads of Force, Dusts, etc.) remain as they are, one-shot items. Anything else, you can learn to do yourself.
Now, when the PCs kill the BBEG, they will find that his
Hammer of Thunderbolts is just a plain old (or possibly MW) hammer, and that it was the BBEG, himself, who made it rock! Rogues who remember will ALL be wanting a
Vest of Escape.
I have used the DMG Magic Items prices, with no other changes than doubling the Magic Weapons costs (since the bonus now applies to any weapon held, and most PCs have several), and had no problems.
The TWO problems you may have are with trying to run adventures where the PCs' equipment is SUPPOSED to be removed (A4 is much easier), and with treasure (as fewer magic items will be given away, so more gems, jewelry, etc., will need to be).
Incedentally, if you have Knuk, or Mariliths, or some other multi-armed critters, you will need to charge X times the magic weapons cost, where X is the number of limbs capable of wielding weapons, to keep things in check... Just FYI!
