The quality of the loot has gone up (in terms of equipment), but at least for the first few levels it is much rarer. Up to about level 7 I only found a couple pieces of equipment as random loot, and on level 8 I found a couple weapons that didn't fit my build, but which could be sold for a half decent bit of gold. I'm on level 9 now, about to go through the derelict tunnels, so I guess I'll see how the chests in there compare to D2:ED.

Terrible loot?