Do give characters an opportunity to react to most death situations and give their companions an opportunity to save them, without making it too easy.
Don't be afraid to adopt a players idea if it seems to make more sense than the original one you had.
Don't give up so much magic , that it turns out more about items of the character than the character itself.
Don't be afraid to change a rule you hate as long as you are consistent with it.
If a character is alwasy pushing its luck, allow him to pay the consequences, otherwise what is the fun of pushing you luck ?