I do think there's too much loot in the game, not necessarily in terms of volume (noone's forced to pick up cutlery) but in sheer quality. Halfway through act 1 I'll have all magic items on every character unless I deliberately refrain from using them. It really doesn't feel very special. The early stages of a DnD campaign are supposed to be about making the best of what little you've got. Peppering the game with magic items from the very beginning just makes it so it isn't exciting to find one. The goblin camp alone has, what, fifteen pieces of green+ loot? Coupled with the incredible abundance of potions ands crolls, it feels cheesy.