When you play on master difficulty, do you receive more powerful and more valuable items at lower levels? for example, the first mine I went into (near Riverwood) at level 2 I am finding enchanted items worth 379 gold, and then Alvor says I can take some of his things, and offers me a necklace of minor sneaking worth 1037?

Your just one lucky Dovakin. Difficulty has no effect on loot lists.

And, what is the power of the enchanted item? It may very well be at the low end of what those offer. Like I was getting 20% Resistance Items at low levels, now I am getting 60% Resistance. But, the low end items were not cheap.

However it is all in combat mechanics that the various difficulty levels change, and that is mostly in damage dealt, damage received and possibly enemies health. There may be some other things in there, but that is the big part of it.

It makes sneaking 15% better, so yeah I see what you mean but the price is still strange for a level 2...