Obviously the second type is more interesting to me, but it's only one of many concerns. I am, however, perfectly willing to bend the story to make things more interesting. One more story comment. I love a good story, but generally I don't think too hard about what the story is, exactly, until after it's all said and done. Yes, this works - just the same as it works in real life.
Characters be themselves, and a story emerges.
So, I had him cast it on a junk ring I had. Feeling pretty tricky, I pawned it off on some poor sap who had just come into town and didn't know any better. Little did I know the 'poor sap' was actually Grooble Furfoot, captain of a small legion of mercenaries, whom he was waiting to meet in that very town. The ring, although not magical at all, was actually an ancient signet used by the now defunct Bludrust clan, and it was for that reason that Grooble bought it from me, not the magical glow. Of course, I didn't know that.