I have a couple of issues with your list.
#1 Keep in mind in Pf encounters are built for 4 characters of X level Included in the formula is X amount of gold of gear both magic and mundane around 7th level it's about 15.5k gold worth of gear while deviating from this formula is fine just keep in mind if you go for a ultra low magic game you Have to adjust the power curve of the game or your players will get pounded into the ground when they are meant to have a easy victory. Say a party of level 7 characters vs 3 cr 6 critters should be a good fight Ie a cr 8 encounter but in a low magic game that could very well be a total party wipe. Last Thursday my group of 5 level 9 characters fought 2 cr 9's and they ended up with two dead pc's because they didn't have a way to deal consistent damage to incorporeal creatures aside from a barbarian with a +2 axe an small alchemist with a +1 spear and a couple of wands of magic missiles that was a Long fight. and that was with the standard magic loadout, more or less magic Greatly changes the dynamic of the combat system.
#2 a skull key that opens any lock is Majorly overpowered , why do we need a rogue when i have a magic key that opens any lock? also a basket of infinite food, instead of a pc buying a ring of substance the entire party gets the same benefit.
#3 I have been shoehorned by a dm who hand picked my gear and as a player/dm this sort of thing can Really piss your players off I suggest cation with this route, a lot of favortisum can show it's head this way even if you don't mean to, in the game I was thinking of the male players got one or two small items like a +1 shield and +1 chainmail one of the female players gets a +1 set of full plate and wings and flight speed of 60 while the other gets a magic sword that gave her dr 5 and and something else silly even if you don't do something stupid like the example above you can still run into issues by handing out gear. Long story short Thing twice before limiting player choice, it's not all about power gamers.
# 4I'm with you on the loot, my players spend a lot of time moving loot around and getting it appraised, but don't skimp on the coinage.
Based off of your comments it sounds like you are using a lot of . . .
I never do those things. To me the huge advantage of tabletop RPGs is that you can do a ton more unique things than video games - part of creating a unique and exploratory feel require a DM to create on such a large and daunting scale that every fight, encounter, NPC, and enemy is something unique, memorable, and exhilarating.
For #1, it seems like you could just slightly monster or encounter levels to work better for a low magic world.
For #2, why would giving these items to players be overpowered? You're a DM, the world exists how you conceptualize it. So what if I give my party a Skull Key or a Basket of Plenty. It's overpowered if I make run quests with mundane locks everywhere. But why would I do that? I know the party has a Skull key - I can tailor my adventure to require different barriers than "this door is locked." What is more likely to happen is that my players start to think outside of "dat enemy, punch enemy" because they have these non-traditional items. The party might try to use stealth rather than brute force to infiltrate a building - just because the key gives them a chance to get by lock now. etc.
#3 - Sounds like your DM sucked. All I can say about that. If a DM can't handle reading players; eyeballing their stats, and then giving them the chance to secure the equipment they would most likely want - well that person has no business DMing.
#4 - Seems we have the same ideas here - If your player base loves derping around with gold buying stuff in stores, then give them gold. I personally hate doing that, because we should be playing a video game instead at that stage; but again it really depends on your player group.
- Also excellent points pocketcthulhu . . . sounds like our players and styles are vastly different but all good points to bring up as the OP could have a group like yours and less like mine.