Ok so an old dungeon adventure eh?

Well what monsters in there do you want them to fight?

Of those monsters that need to be fought to pas the encounter, which require magic items to handle?

What types of magic items are required?

What classes will be in the party to use any +X weapons?

What attacks do things have that must be fought?

What kind of armor will be needed to weaken the party severely to the brink of a half-party kill without becoming a TPK or making it a cake walk?

These are the things you must ask to figure out what magic items they will need, and what they could use and have funy with.

Figurines of Wondrous Power make for some great distractions/autonomous weapons that can inflict magic damage to creature not otherwise touched by non-magic items.

Also would this be 1st edition character, or 2nd?

Seems a foolish question, but looking at the classes that will be present and the monsters presented in them it acutally does make a difference for some things.