Welcome back, Brad.
In reply to what other posters mentioned earlier: making the Loot interesting is one of the hardest challenges in a new MMO imo.
In Everquest, if you were an average Joe like me (not one of those players that were camping Guk within 4 weeks from release) the Loot-meta game was like this:
- Kill a Gnoll pup and rejoice in finding a Cloth cap on him, or a Small Pouch (2 slots, yay!);
- Contest other players for that decaying skeleton that was wielding a Cracked Staff( 20% damage upgrade for a noob, omg!);
- Try to get your hands on a magic weapon so that you could hunt Wisps once you were big enough;
- Trade your Spiked Collar (omg, uberloot, need a group) for that Giant Snake Fang, that another player had brought all the way from Freeport;
- Still having 5 empty slots by level 10, so that finding rawhide pieces in West Karana was still cool;
- Doing Menken Tabolet quests in Qeynos because the guy actually gave rewards that had like STATS on them and not just some AC. Stats like +1 Dex.....
- Finally sealing that deal with some dude in Freeport that agreed to sell you a Runed Totem Staff(dropped in Splitpaw V 1.0) for 5 PP, and agreeing with him to meet eachother halfway on the bridge in East Karana to do the handover.
- Players being split up in those that were doing dungeons (i.e. groupers that were willing to take some risk of dying) and those that preferred soloing or just slackers like me, which opened up trade possibilities: PP for the groupers, a Runed Totem Staff for me, a lonesome soloing Druid that took forever to level.
- The immense thrill of bumping into a rare wandering spawn in some outdoors zone, and getting an awesome Shield from it that I used for like 10 levels on my Druid (some NPC chick in South Karana).
I just do not see that happening again, since all the above relied on several other game-mechanics that are considered player-unfriendly:
- Slow leveling-curve;
- Low droprate of the better stuff;
- No common Market (Bazaar, tradehouse)
- Distinct Classes(favoring some for certain aspects of the game, like travel);
- Class/player interdependence;
- Dangerous travel through zone-design;
- Harsh death penalty;
- Ultra-rare mobs (as in, never seen it in 14 years of playing);
- No shared banks;
- Average players were pretty weak for quit a long time;
If you take one or a few of the above away, it will have a direct effect on the loot meta game. I think it all worked together in some way, with unforeseen effects, some of which were actually cool and some of which are looking cool in hindsight, with rose-colored glasses on. For instance, I was never a dungeon-dweller/grouper, so I never felt the frustration of having to share a camp with 17 other groups. I was just glad that I could buy that RTT from some guy that actually did that stuff.
I just do not see Brad's game(or any game) having the above feature list(or lack of features, like a Bazaar). I am afraid that the Loot Pinata is here to stay. Still, I wish Brad all the best and will be following his project with interest for sure.
I am still playing Everquest to this day and enjoy both the modern adaptations as well as all the old school mechanics that have survived. If there was one complaint I had to make, it would actually be that Itemization has indeed become very predictable and of the "more gooder" type. Numerous clickies and the hunt for Augments through long quests has spiced up things a bit but itemization is still the toughest nut to crack imo. Good luck with that!
Oh, and Death to *any* kind of "grind enough tokens/emblems/seals so you can buy shit from a vendor" system!