On-topic: I voted sort-of.
I reserve the right to say, "Nah, that's more powerful/useful for its cost than I'm comfortable with" (followed by "How about X instead?", unless brainfreeze sets in & I can't think of an X). For example, the ever-popular
gizmo of minor or light healing (unlimited use
cure minor or
light wounds item) -- as both GM and player, I
like that our intrepid adventurers occasionally have to retreat to lick their wounds, rather than just saying "We spend 48.6 minutes curing everyone with the
gizmo."
Of course, most of my players seem unwilling to part with XP to make magic items at all -- even for scrolls, even despite a few occurences where a few immediately usable
lesser restorations would've been really handy.
Originally tangented by Axiomatic Unicorn
Tangent: IMO, the most cost effective item of all. Amulet of Endure Elements. Pick the element when you make it, Make it usable 1/day because the duration is 24 hours. Market price = 360 gp. So for 15 exp and 180 gp you can have energy resistance 5 effectively forever against one energy type. Granted, it becomes trivial after you gain a few more levels, but what a bargain.
Would you even have to pick the element when you make it? Couldn't the user choose that at the time of usage?
It does have a flaw, though -- at caster level 1, it's trivially easy to dispel it, and once it's dispelled, you can't bring it back 'til the next day. One unlucky area dispel, or any targeted dispel, and it's gone. After a while, I think
dispel magic fairly common.
But otherwise, yeah, it's damned handy. Heck,
endure elements in general is handy. I've seen PCs take a day of rest, prepare practically nothing but
endures (some Extended), then cast 'em just before going to bed that night. 5 pts energy resistance for everyone!