Interesting reading guys:-)
I don't say that random loot isn't good.
As you have said, 30johner, it helps in replayability, as you can find different items each time... however ! What if you plan to play a full mage for example and you only keep finding some warrior / ranger stuff? You know what I mean? This can ruin the game completely for you.
The thing with the locked chests is true as well. I put 5 points in lockpicking, quite in vain.
And one last thing, but the most important I'd like to point out.
Several times in the game I have mind readed a guy, found his secret key etc., found his secret stash only to find... apples... or something as useful... you know what I mean? At least the "treasure-like" chests could be set by default, so that you find something you will use, as a reward for you effort. And not to climb a dragon statuete head and then get an apple
