The silliest thing about Epic Level rules is are the two assumptions that go into the phrase 'Epic Level'.
The first is the obvious marketing assumption that playing with godly ammounts of power is some how more 'Epic' than playing with just short of godly ammounts of power. I mean, come on, at 20th level you are already emmensely powerful, and you can already have 'epic' stories at low to mid levels.
I once calculated that a single high level first edition fighter was worth in combat 300 or so Orcs (the exact number escapes me at the moment). A single first edition party could at higher levels reasonably take on whole nations of Orcs and expect to win. This was already tremendous power, and high level characters in 3 ed. edition are only slightly less relatively powerful.
One of the problems that we noted in 1st edition play was that if the world was sufficiently dangerous to challenge a party of high level characters, then it was sufficiently dangerous that regular society could not function. What do the 1st level characters do when the name level (9th+) characters aren't arround to save thier skin? Surely we couldn't be everywhere at once? If we encounter several challenges on every voyage or journey, how could anyone of lesser level survive? How could trade possibly occur?
Ultimately we had to decide that beyond a certain critical point, the world just wasn't that challenging to you and new types of challenges had to be invented to test our resources.
To me, the hugest problem with 'Epic Level' rules (other than the cheesy name), is the assumption that 'Epic Level' challenges can coexist in the same world as regular people to whom regular challenges are quite sufficient. In dragon they presented a pernicious, reproductive, infesting 'Epic Level' monster? How is it that it hasn't exterminated the human race? If the PC's are Epic Level, don't their need to be Epic Level Orcs? Why aren't more things Epic level before they reach Epic Levels?
It might all be fine to say that this is happening out in the Outer Planes somewhere, but this doesn't seem to be the default assumption. Instead, the default assumption appears to be that 'Epic Level' is supposed to be just like regular level only 'Kewler'.
If they really took thier assumptions seriously, a real Epic Level handbook would deal in great depth with running realistic economies, handling the book keeping of nations, and running mass combat between mighty empires, because as someone who reached the 'epic levels' of 1st edition (say 15th) can attest - Epic Level characters have to deal with that sort of thing on a day to day basis. Instead, the emphasis seems to be on increasing ability to deal hp damage.