This has probably been posted in the hundreds of replies to this thread already from a month or more ago, but for "magical" weapons that might glow or produce elemental effects, I think it would be great if they would do so only when drawn. Wielding it with the intent to engage the enemy should activate the magic, rather than being a glowing fiery liability strapped to your waist while you're in town buying food.

It would also possibly help reduce load in crowded areas like towns, as well as help to appease the "no thanks to giant glowing WoW crap everywhere" crowd.