Wow, lots of complicated methods. Most of the NBG methods seem to assume a party where all the PCs are not just allies, but buddies, everyone knows what magic everyone else has, and that pretty much the same exact group shows up, time after time. If that's true for your group, then these NBG systems should work fine.
The makeup of the groups I play with tend to vary wildly from session to session, so we don't keep any kind of 'pool' of items (not fair to those who risked their lives to get item X for a player who wasn't there to take it), and since the PCs are much more along the definition of 'allies' rather than 'buddies' (one group contains several rangers and one priest of Set - neither side of which is going to open up their list of magic for the other to peruse to ensure fairness!), they are definitely looking to improve their personal power whether it hurts or helps the other side.
The system we've used since the beginning of our group (ca. 1977) is that all 'money' (gold, gems, etc.) gets split evenly, among PCs, NPCs, and hirelings. For division of magic, everyone rolls percentile dice (if one PC has multiple hirelings, the hirelings group together for one pick, prevents a PC from hiring henchmen just to leech magic). The highest percentile roll goes first, they take whatever they want. Next highest roller goes, takes whatever they want. If they run out of rolls before they run out of items, everyone rolls again (actually, we'll do enough 'sets' of rolls to divvy up everything at the start, when a large enough hoard to require multiple rolls happens).
People tend to take what they need (rather than what's the most valuable), and it's common for people to trade positions in the list for favors, items, and so on, and this puts the newbie on even par with the experienced character.
It also means zero discussion/argument about who 'needs' what, and what items are 'worth'.