Wizards of the Coast has released a magic item page from the D&D Starter Set rulebook.
The page, which is taken from an appendix in the starter set, includes a crash course on the rules that govern magic items, as well as a short list of the magic items to be found in the adventure, Lost Mine of Phandelver.
The means of identifying a magic item is a hybrid system between 3.5 and 4e - you can either cast the identify spell, or you can spend a short rest studying the item to learn its properties. In the case of potions, a little taste is all that's required to know what it does.
For some items, you need to attune to them before you can use their magic properties, which requires a short rest. The item can only be attuned to one character at a time, and a character can have no more than three items attuned to her at a given time.
The page also lists five magic items, including your standard fare +1 Armor and +1 Weapon, as well as two old classics: Boots of Striding and Springing, which increase your speed to 30 feet and allow you to jump three times your normal distance, and Gauntlets of Ogre Power, which increase your Strength score to 19. Lastly, the Potion of Flying allows you to fly for one hour.
How do you feel about this hybrid 3.5/4e system for magic items, and the new limitations clearly intended to stop characters from becoming too powerful through items? My preliminary thoughts are that I'm a fan; I believe magic items should be important, and by limiting how many you can use at once, you lend the ones you have greater importance.
Source: Wizards of the Coast