i agree that some more high powered hammers and axes would be nice, and of course there's a lack of bows, too (actually, the lack of bows could be fixed by increasing the drop chance of the super awesome shocking longbow - if you can grab one of those, your archer hero will never need another upgrade again).
caster staves are fairly useless, though. i always end up using a fast dagger with extra initiative and bonus crit chance/crit damage on my caster heroes - that's usually more powerful than a staff with a tiny bit of extra spelldamage or spell mastery and nothing else.
maybe the accumulated fame could also trigger small random events like "a merchant has come to town XY, attracted by stories of your great deeds, he has some artifacts for sale. do you want to buy the Axe of Roflstomping or the Hammer of Pwnage for X gildar?". so you could basically gat some good items for your high level sov without relying entirely on luck.