I'm sure they've made lots of changes to loot in the enhanced edition, and the systems will only improve in D:OS2. I agree though, that the sheer amount of magic items you find really devalues the experience of loot. Also, there just isn't that much variety in the variables, so you end up finding like 50 +loremaster rings. I really hope they've at least halved the junky blue and green items you find, and added more variety. So far though, the loot I've seen in EE demonstration videos hasn't seemed too different, but it's hard to tell.
