Generally agree. Shroud mechanic works. Dragontouched now sort of works (at least you dont replace a good rune with a random one and end up worse off). Challanges work.
I think they wanted to save time and let random generator do the job because they didn't have enough time to come up with well balanced choices. Why try to make a list of 30 items that are well designed and thought out when you can come up with blanks, add a list of semi-random effects, and let the computer work out the details. If the player gets a great, uber-powered combo, then good for them. If they get a sucky choice, well the vendor will give some plat for it.
As stated in previous post, either change this mechanic, or at the very least pair down the list of possible random permutations so that we get one of 20 random GOOD adjectives rather then 50 good, medium, and bad ones.