Itemization is relatively good at the moment IMO. Yes it is far more magic items than in a typical DnD campaign, but that was to be expected from a video game. The items we get are not overly powerful most the time and we have room ro improve at higher levels.
Items leveling "with us" is not something that I find too interesting. This would create a "best in slot" situation quickly. Its more interesting to ponder the trade offs you have using one item or the other whenever you get a new one (or even changing those according to certain situations)
