Owner of the magic armour

Noism has posted a well-observed note about magic items in D&D type games. I particularly like the simple rule he proposes for carrying this thought forward into actual play. I'll certainly adopt this idea when next running AD&D or a similar game. If nothing else, it should spark some interesting role-playing moments as the great-grandson of Magnar the Slayer spots a hapless PC brandishing his ancestor's enchanted battle-axe.