I'll throw in another vote for both items that can grow with the owner (players like to get attached to their favorite items) and pants. :-)
I would love to see more subtle items, items that are less about power and more about flavor and imagination, that allow players to come up with more interesting options. Some things that have turned out to be fun in past campaigns include a vial that magically preserves its contents, a cooking grid (as in the metal grid on top of a barbeque grill) that magically heats up to cooking temperatures, a ring that lets the wearer turn into a mouse, two magically-connected scrolls that can be used to communicate (writing on one appears on both)... Those are less imaginative examples, but (hopefully) you get the idea.
Greatly looking forward to this!