Really well written. I like the simultaneous extreme reward and extreme danger to be found. The magic items are really clever, and as others have stated the unpredictability of NPC locations is a nice touch that lets the GM play to find out as well.
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Thanks for the feedback!
For me, I feel like I want players to be able to find crazy stuff because that's part of the fun, everyone loves to talk about the time they got a powerful item, but I also think that If you have an opportunity to get a character-defining item that is probably pretty nuts, you need to work for it! Overcoming a challenge far beyond you is core to the OSR for me :)