Yet another one for you to consider, do you use the optional item saving throws in your campaign?
I think method 2 (p. 55 LL) seems to work the best for our group and so far I've used it on falls and acid. I've not called for item saves for magic weapons or armor, as these seem to be omitted from the entry, and I think that is fine. Maybe in rare instances one might call for them, but losing your +3 longsword as a result of a fall into a 20' pit seems bonkers even by old school standards.
Your thoughts?