I wouldnt say that magical items are hard to come by, specially amulets the game seems to have in abudance. Martial weapons are also foujd very frequently.
That said even mundane heavy armor is exceptionally rare in the game atm. Same goes for simple magical weapons, they seem to be quite rare..... whats more the issue (imo) is that the vendors sell alot of em. And the few ones that we find are actually suprisingly power.
