JXLC - if it makes you feel any better, when I read the DMG rules about only 1 magic item possibly being affected, and that only if a 1 is rolled for a saving throw, I said "stuff that for a game of soldiers!".
It seemed a stupid rule to me and was thrown out forthwith. Item saving throws were certainly a staple of 1e, although it only came into effect there if you failed your save (at least in our games).
I have some simple house rules that I use now which make much more sense to me - if you are interested I'll post them over on the house rules board for you to pick apart. Basically it amounts to forcing items to make "massive damage" saving throws if more than a certain amount of damage is taken. Some things are especially vulnerable to some energy types and have a lower threshold, while possibly being invulnerable to another.
Apart from anything else it means that you could fail a save vs Burning Hands with a 1 and take 6 points damage (but all your equipment is OK), and you could make your save against an ancient red dragon and take 120 damage and see all your equipment melted around you.
Cheers