Great read!
"In Angband, any monster that drops stuff can drop pretty much anything. Monsters have a level, and if they drop loot, it just randomly picks any item near the monsters level."
-> (RPG related) I felt like this was an issue with Diablo 3 compared to Diablo 2. You basically just had to mash around in D3 grinding the top-level monsters and hoping... whereas in Diablo 2 you could make conscious choices over where to farm if your goal was to find a certain item (albeit the drop chances were extremely low, so most people just did Meph runs or Baal runs and traded their way up). Here though the author is doing drops way more realistic than either of those games heh, so that's quite an awesome feat.
Itemization seems really tricky; analyzing Diablo 2 vs Diablo 3 can actually provide some interesting insight into how item systems affect gameplay etc... maybe those devs even tried doing it realistically at some point but found it didn't pan out gameplay-wise?