I guess as a player, and not a DM, I'm feeling this from the other side...
I played D&D, very early on, then didn't play it again until our first 4e campaign (that was about 3 years ago). It was always nice, adventure, kill things, roleplay, find really cool magic items and use them...
Not now. Our DM is absolutely of the mindset that magic and magic items are all *rare* in D&D, and is playing our current campaign with inherent bonuses turned on.
We are at level 4 now, and I've got a basic set of scale armor and weapon that I had at 1st level. No one in our group of 9 has gotten anything extra. (yeah, I know, its a large group but all 9 rarely show up).
Oh, I do have a base level holy symbol (I'm a battlecleric this time).
As far as I'm concerned, we might as well be playing "real life adventures" instead of a magical game called D&D.
Sorry, don't mean to be ranting, but when you take the magic out of the game, well...you take the magic out of the game...
I dunno...its still fun because of the guys, but it isn't the same either...
Guess I just need to suck it up and play, huh?
Later gang...