Wand of fireballs. Staves of power. Flametongues. Rods of Might. Kick ass magic, to be sure. Powerful, to be sure, but are they "fun"?
Personally, as a player and a DM, I've always felt that Wands of Wonder were under-appreciated. Just by it's very nature you can expect no two wands to be the same, because even if both wands are using the same by the book table, the results will be different.
Me, I always liked making custom tables foe the Wands of Wonder I've introduced into games.
So, what are some of the under-appreciated magic items in your campaigns?