Backfoggen
Banned
It would be good to combine the two ideas though.
Having something tangible in the world is better for immersion, but having a little light to show you the way is great too for the reasons you listed.
For the Zwei, it would be great if there was a piece of light, but you could see the fully rendered item on the ground. Taunts you into trying to acquire it from the skeleton army guarding it.
Yeah, I was mainly talking about weapons or maybe armor too. I remember seeing the Dragon Bone Smasher in Demon's Souls and wondering how the hell to get at that thing. That was the reason I read a wiki for Demon's Souls for the first time. It just looked so cool.
In Dark Souls you get most of the cool items through chests or by upgrading using boss souls. Pretty boring imo.
Rings or other smaller times should still be shown in a more obvious way, I don't want to go pixel hunting in every area for a small little 5 pixel ring in the corner.