Again, I disagree with this. AD&D character, because of the random treasure generation, or, if you played 1e modules, were absolutely dripping with magic items. A given lair (and a lair could easily be 2 trolls or a single wyvern) had about a 15% chance of 3-4 magic items. How many lairs were the PC's looting per level? 10? 20? More? Even if they were looting only 10 lairs per level, by 5th level, that's 20 magic items across the party. Sure, some of them were potions and scrolls, but, more than half were permanent items, if you were following the random treasure generation.