I tend to use the magic items listed as a foundation to build items from. In my last game the players came across some magical items. When I rolled, I got a +1 weapon.
Thinking a bit, I decided that it would be a handaxe that belonged to a dwarven hero. Why did a handaxe become magical instead of, say, a battleaxe or warhammer? Well obviously it was important to the dwarf's crowning achievement. What if the hero was disarmed during an epic duel and only had the axe left? That's something I can work with, but there needs to be more to it than that. Suppose he threw it as a last act, but it was deflected, and as his foe was about to land a killing blow it returned to the dwarf's hand, allowing him to overcome his foe. That's far more interesting of a backstory for a magic weapon. I'll add a property that it returns after being thrown, though only once per turn (no extra attacks with it). The name Second Chance seems appropriate and will be etched into the haft in dwarven. That'll reward anyone proficient in the dwarven tongue, even if there are no dwarves in the campaign. Perhaps later they could encounter a dwarf who recognizes the weapon and wants it returned to the hero's tomb. There's a potential plot hook.
At face value a +1 weapon seems bland, and if handed out as written then I can see how they are. From my perspective it is a blank canvass to work with, to craft into a historical artifact, and to enhance as I see fit. For me a plain +1 weapon is only as limited as your imagination.
