I like random loot because fixed loot just causes me to come up with routes in subsequent playthroughs to pick up all the great stuff with which to steamroll the rest of the content. That has been the case in all RPGs with fixed loot, such as the BG series.
What I don't like is that the system can be abused. Loot should be determined upon entering an area and included in the savegame file. However, shopkeepers should have fixed loot (which updates only as you level up) so you have a reliable source of items to fall back on; it took me ages to find my first crossbow.
