When I started playing with my current group, I had already played most of the base game, so we started with a fresh group on quest 9 of the base game.
The first few quests were relatively easy. Then we went on to Kellar's Keep, which was a bit tougher, so we quickly saved up for shields and helmets.
At some point, the wizard died in 3 quests, and the dwarf also died once. So on the following quests, we had recruited "new" heroes, meaning a new wizard/dwarf, without gear or gold. We didn't know that surviving heroes could pick up a dead hero's gear if they could get to his body before an enemy's turn, so we had to save up again for gear.
Now we're at RotWL, and we've bought chainmail as well, giving us +3 defense dice with the shields and helmets. The wizard has the bracers and cloak, giving him +2 defense.
As for special artifacts: our DM (my wife) simply hid the lost artifacts such as orc's bane and the talisman of lore in random places, so we'd eventually get them again.
I'm constantly adding stuff from the US games and fanmade material, to keep it balanced a bit.
But if you play with new people and heroes all the time, simply decide what gear the heroes should be able to use during a certain quest in the storyline, and allow them to choose and pick their items before entering the dungeon
