Li Shenron
Legend
Contrast that with 3e's magic item creation and magic market assumptions. At that point, players started really taking ownership of what their PCs had and devised schedules of regular upgrades as the wealth rolled in (according to appropriate guidelines). Those of us who ran 3e games like we ran 1e/2e games, probably still didn't see huge issues with items defining characters. But for those DMs and tables who pursued the new assumptions, perhaps even seeing the WBL and item values as a system like point-buy super power buying in Champions, probably developed the impression of items defining characters most.
It's more than an impression when you get players that plan ahead their magic item equipment purchases in the same way they plan all level-based features progression.
What I want out of D&D Next's magic items is a renewed sense that items are not regular power-ups on the route to higher level. I want a renewed sense that they are not an entitlement but a reward, usually serendipitous, for adventuring and surviving. I want a renewed sense that players can't safely plan for particular magic items unless they play through quests for obtain them (though I accept that payment in advance is also acceptable as in the case of Perseus being equipped with magic items in order to accomplish the quest of killing Medusa or Frodo being equipped by Galadriel to sneak into Mordor).
If I could get all that you say, I'll be really happy as a player!