[PvK]

No. There are two levels of information. One is the player's level; the player is shown all of the equipment and fatigue levels and so on, for fun and so they can see how things work. The other level is the knowledge of the troops and leaders. They don't have the same omniscient view of what happened. They don't recognize what is magic and what is not. As has been mentioned by IW in the docs or someplace, many items may be looted, but by people who don't know what they are, or how to invoke their powers, and so they effectively are removed from play.

Also, some items would get destroyed during a fight that kills the wearer.

PvK