Very nice episode. (Look at that, I'm caught up on my podcasts!)
Regarding the Super Ghouls 'n Ghosts discussion, I'm not sure if I misunderstood or if everyone on the podcast was wrong, but the bracelet doesn't quite work like you described it (on a related note, neither do the contents of the chests).
The bracelet doesn't randomly drop from enemies (at least not that I ever saw). It appears in the fifth chest in any given level (provided you don't get hit at all). The contents of the chests have a standard progression--the first one you get will contain a weapon, the second the green armor, the third the gold armor, the fourth the shield and the fifth will contain the bracelet. The magician will only appear from a chest if you get hit (and lose your armor)--the next chest after you get hit will contain the magician, then it will start the progression over again.
Also, you don't have to play through the entire game the second time using the bracelet--you can use your normal weapons right up until the final boss. There are exactly 5 chests in the last stage--one at the beginning, two by the red demon, one by the ladder after the red demon and one under the two mimics right before the boss. As long as you get them all (and don't get hit) you don't need to use the bracelet at all except for against the final two bosses.
Unfortunately for me, I simply cannot beat the second to last boss using the bracelet. It's horrible range forces me to get too close to the boss and I always wind up getting hit with either his fire breath or the laser.