Depends on what those penalities are. Me, I'm just considering using Gold, XP and HP loss. Maybe even a Con score drain, but certainly something less serious than saves, attack bonuses, etc.
I working with my DM to get Legacy items in our game. It would fit so well with the game.
But I too think that some of the penalties are a bit much.
I was thinking of having characters spend a character feat to gain access to the items powers along with the gold cost. OR the Feat and XP cost useing the gold value as if that was the gold cost of an item being made.
So like an Item would cost a character feat and 2000gp for lvls 5-10 OR a feat and 80xp (2000/25)for lvls 5-10 (Feat cost only once to gain access to the item) Then at lvls 11-16 its ether 11000gp or 440 xp (11000/25). Its ends up being like about 10,000 xp total at lvl 20 for the item.
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If that turns out to not be enough maybe have the XP cost allow for only paying half the gold cost (like a magic item, this seems more inline with the idea)
Gold cost will very item to item (Ones that cast spells cost a bit more) Im thinking of useing the charts they have for each of the PC "Types" for the costs. So a plan caster item would cost 3500gp or 140xp for lvls 5-10 while a item that is mainly combat bonus and or skill bonus would be in the 2000gp or 80xp range.
This is because gaining spells at will is really nice thing while gaining a +1 to hit and damage is not as nice.
