I've never had players provide a wish list of items.
To be perfectly honest I find the very concept bizarre and the complete opposite of where I come from as both a DM and as a player within a campaign.
Yeah, it's a 4E thing. The DMG actually tells you to solicit wish lists from players every level. I don't think it absolutely says you must... Something like, "the best way to do this," or "a great way to do this." Still, I like the idea and want to implement it.
Why? Because players can take up some of the work of adventure design. If the guy who plays the fighter loves items that grant rerolls,
he can scour Adventurer's Vault for those items and give me a list, rather than have me scour Adventurer's Vault and jot down a list. It doesn't mean that he;s getting every item he wants (or maybe not nay of them), I just save myself the hour or so it takes for me to find treasure that is useful and interesting to them, and the players get useful items instead of totally random things they might not care about.
Besides which, my players
already do this sort of thing, they just don't go so far as to write it down in a list and turn it in. In the middle of combat, they'll say things like, "Hey, wouldn't it be cool if you had
meliorating armor?" "Man, I wish I had a
vicious weapon right now." So... In addition to running the game, I also jot down notes about the players desires, and when they get those items, their reactions are indifferent.
I think it's reasonable to let the players assume some responsibility for how the campaign turns out. It doesn't threaten my control over the narrative or my ability to challenge the party by getting their players involved in the design process.