I think your right. I'll expand a bit more. (thomases post)
I never saw one of these games where magic wasn't common at any convention, in any module or book. I played in a few miserable games with DM's that wanted that game, usually because someone really had an axe to grind and wanted to DM, but the players always revolted and I always got the DM stick again. I will say this most people I've talked to that want a "low magic" game. If I can get them to explain why, are usually trying to recreate a feeling they had when they read the lord of the rings or some other book which is a lousy way to plan a game.
I loved the Lord of the Rings, I loved the Count of Monte Christo, but i wouldn't force my players to go through that nonsense to try and give them what I got when I read the books. I think that's why you get so many angry un-yielding people who want to fix the game by taking away those magic items that prevent them from reliving that feeling. Sadly you cant get that stuff back . But you can enjoy it in your own head while relaxing.
That and Lord of the Rings had a TON of magic items in it.
The Hobbit: The One Ring, Sting, Glamdring, Foe Hammer, Mithril Coat, maybe the Arkenstone, The Black Arrow and a door that could only be found by a certain moonlight.
Lord of the Rings: Glamdring, Sting, The One Ring, Mithril Coat, two elven rings of power, 9 human rings of power, several elven cloaks, Anduril, the phial of Galadriel that gave off light, potions of nourishment(Lembas Bread), magical earth, a horn that would always bring help when sounded, magical boats, magical elven rope, an elfstone, a bow strung with elf hair, several knives of westernesse, morgul knives, a flaming sword(Witch King), the palantir, the Mirror of Galadriel, the seat of seeing, and I might be missing a few.
Silmarillion: Thousands of magical swords(including the black swords) and armor forged by 1st age elves and dwarves, huge numbers of magical gems wrought by the Noldor, the Silmarils, the Helm of Dor-Lomin, the palantir, the star of elendil, the lesser elven rings, three elven rings of power, 7 dwarven rings of power, 9 human rings of power, angainor the magical chain used to bind Melkor, feanorian lamps, the two lamps, Vingilote the flying ship of Earendil, and more.
There are also potions of healing in the form of orcish healing goo, but I can't remember which book that is from.
Then there's the passage from the Lord of the Rings where Gandalf talks about knowing every spell in all the tongues of elves, men and orcs, revealing that they all had magic users, even if they weren't wizards(Istari).
And that's just what he wrote about. Magic in Middle Earth isn't nearly as rare as people want to make out.