Li Shenron
Legend
Is AC intentionally that low? If so, does giving a creature better armor significantly change the assumptions of the game or the challenge of an encounter?
This is an interesting point. I guess that the designers wanted the PC to be hit more rarely than monsters, but I understand your concerns. I can't say much myself because I've never played at high levels.
Does giving a lot of magic items to the party unbalance the game?
Obviously it makes them more powerful and resourceful, but IMHO it doesn't disrupt the game unless (1) those magic items include weapons with high attack bonuses, and/or (2) multiple items grant bonuses to the same thing and the DM lets them stack.
In general, magic items in 5e stack, but the attunement rule is supposed to be used to prevent excess.
If you play in a monty haul campaign, use attunement as a mitigating factor, and use higher-CR monsters or just bigger encounters.
Are there particular items which you've noticed are problematic?
Not yet, but once again I've only played at low levels.
Does Polymorph Salad work as a tactic? What are you're thoughts on that situation, and how might you handle it differently?
No, it's clearly not the RAI of the spell. If someone attempted at eating a polymorphed creature, when the spell ends I would just say that the two creatures occupy the same space and are suddenly shunted separate from each other, perhaps with a pyschological shock but no damage to either.
As for the Cleric known spells, it's already been clarified that absolutely the RAI (and possibly also the RAW) is for a multiclass character to have the same access/knowledge of spells of each class as if it only had the levels of such class. So Cleric 1/Wizard 19 can only cast Cleric spells of level 1.