One of my players was begging me for a magical sword, so I decided to give him one...<evil grin>

+17 Vorpal Sword of Sharpness *cursed
    owner will not use the sword against anyone wearing metal armour (it might scratch the sword)
    owner is automatically affected by all spells targeting him
    sword loses all magical enhancements in the presence of a wizard
    owner must kill any wizard he encounters (see, hear, taste...etc)
    owner does not gain xp (sword does)
    sword can be telekinetically controlled by owner
    +7,294,762 vs kobolds
    owner is allergic to spoons, forks, pillows, and anything made by Microsoft
    owner drops all other magical items in favour of the sword
    other stuff that I can't remember



Another 1337 item to put in your campaign is the

Stick of DM Control
    *this item is not magical, it supernaturally alters the rules of the game in the owner's favour
    no one in the campaign setting knows what the stick does (not even The Almighty Ferrets OF Doom!!@##@#2!TWO).  They will tell the player that it is good for whacking stuff, and whack the player on the head with it.