Funny, I can't remember any character I've ever played or partied with above 8th or 9th level that wasn't defined by his magic items since I started playing in the 80s. By mid to high level, every character ends up having a magic item that you associate them with. And the higher level the game the more artifact like the items became.
If anything, 3.xE games, with their holy grail of balance, reduce the amount of artifacts that land in the party's hands. So, because balance is so important, magic items have to be awarded slowly and steadily instead in a big lump like they once were.