Only if you can't just waltz in on the first levels.
These should be in locked in metal chests with Very Hard locks and guarded by giant fire-breathing bronze lions.
That won't stop your Level 1 character from getting those high-level items, if the game is done like in OB, because you'd be able to pick the locks at Level 1 without any skill in it, and the bronze lions would be scaled to your level, and therefore no real threat. Of course, in OB, high level items don't even exist anywhere in the world until you're "ready" for them. Granted, there were numerous "spoiler" items just lying about in Morrowind for the casual taker, but many others were guarded by adversaries which were NOT levelled or scaled, and would cheerfully punt your tender Level 1 posterior back to the boat in Seyda Neen in a single shot. Both games had serious flaws, but they were DIFFERENT flaws.
In my opinion, there were a lot of excellent ideas in each game, although not always implemented in a balanced or rational fashion. If those were reviewed and the best of each chosen AND FIXED, we'd have the best of both games. Instead, "reinventing the wheel" each game insures that the old problems aren't repeated, but that fresh ones will be intoduced. Some "moderation" might be nice, but doesn't seem to happen very often in an "EXTREME" world.