Just a few catch-up observations:
- A generic and tweakable base-line price list for magic items is a useful thing to have - in the DMG.
- A DM should then tweak/edit/add to this list to suit her own campaign and-or experience.
- This amended price list should then be for the DM's eyes only and not in any way accessible (in its entirety) to the players!
This last is where the problems arise. For some reason 3e moved the magic item lists out of the DMG and into the PH; which was a colossal mistake as it quickly led to a much greater player-side expectation of getting what they wanted, right now, at the listed price. Echoes of this mistake are still reverberating today; some even in this thread.
Moving magic item pricing from DM-side to player-side also made it much more difficult for a DM to tweak the price list or remove listed items to suit her own campaign (though it remained easy to add new ones in, of course).
And yes, going through a great long list of items and doing the requisite tweaking is tedious. I earnestly hope you each only ever have to do it once.
Lanefan