And this is what made Baldur's Gate a borefest on multiple playthroughs. Since the magic item loot was set (which I'm assuming you want since set trash loot has no purpose), you would end up having a formulaic playthrough. Rush to get Celestial Fury, get Flail of Ages, get Carsomyr, etc etc as early as possible. It's a horrible system.
Playthroughs degenerate into item checkpoints where you only progress on to the next stage when you have the set magic items and everything else can be skipped since you've got the best stuff in that area.
Some may argue for static, but some are arguing for "tailored" loot (ie loot that considers your party and makeup)and to me that also is a bore fest. MMO's started doing the "tailored" loot systems and it ruined the games for me.
