I personally don’t care much for RPGs where you can buy magic things (weapons, armor, etc.) in a store. Like when you can trot on down to uncle spiffys’ magic emporium and pick up a sword from the +1 rack . How many fantasy stories do you read where the heroes simple go in and buy some magical armor? I am sure these exist, but I never read them. Why should you bother pulling the sword from the stone when you could just buy one and declare yourself king of all Britain?
Over all when it comes right down to it I like a more Sword and Sorcery approach to magic. I am also more partial to a more low fantasy setting. Dark and grimy, fantasypunk if you will. Trenchcoats and longswords perhaps? Basically I think magic should be dangerous to wield, deadly to your foes, and rare. If you have a magic weapon (of any sort) it makes you stand out, if you are a wizard you should be feared and respected. As player characters you should be competent (not always successful but not a feeb.)
Part of a fantasy characters identity is with his weapon of choice, often symbolic of something. Not something they picked up at Jiffysword.