Okay, here's how I would handle gold and magic items, if I was soley responsible for 4th Ed.
1. Stat boosting primary magic items. Here we have our +x swords, items of important attribute bump (strength for fighter, intelligence for wizard, dexterity and constitution for pretty much everyone,) rings of protection, etc. These are legacy items and are automatically improved by leveling, and only by leveling. These make a character better in combat for the most part, and everyone gets them. No money is involved here.
2. Useful magic items. This category contains wings of flying, cloaks of the montebank, bottles of air, portable holes, etc. Few of these directly improve combat, though they do improve combat options. They mostly open up possibilities for adventures, and the game assumes someone in the party spends gold to get them. Nobody, however, has to. If one player does but another has other interests for money, that's fine. The former player has more combat/dungeon versatility, but the party as a whole still can go off and adventure underwater, in flying castles, and other places that need such magic items. And if nobody wants to buy those items, either they aren't interested in such adventures or the DM creates some other setting-specific ways to get the party involved (like a generous NPC benefactor or a random magic teleporter.) The expectation is that the characters also get some potions, scrolls, wands, and other expendible items, but most of these can be found instad of bought.
3. This leaves a sizeable discretionary incombe, giving the player many options. Players eager to play generous characters can give it to charity. Hedonist characters can spend it on the usual ale/whores (which could actually justify bringing back the old 1ed prostitute table, ironically! Except it could be level-based, featuring upper level categories like "15th level half-demon bard," and "Selune.") Prestige-obsessed characters can spend it on clothing, jewelry, and other luxury items, and ambitious players can buy castles, armies, airships, or businesses.
And what about the consummate professionals with no interest in any of these things? They can spend the money on more level 2 items or the even less useful level 3 items. These include cubic fields, decks of illusion, bags of tricks, that sort of thing. They also can get lesser equivalents of their legacy items to specific situations. For example, a fighter with the 4th ed equivalent of a +5 sword as a legacy item can also buy a +3 club specifically to fight undead. Tertiary attributes can also be found here. A fighter has little combat benefit to an intelligence booster, but if the player wants this option, it can be found here. This way, all players are about equivalent for most combats, but the adventure, combat, or dungeon focussed player won't feel like money is a waste.