no, its not a matter of having gold.
the problem is that you can always get way better (affordable) items for your character, far, far easier, with a quick visit to the AH spreadsheet. On my way up till about lvl 40 something when I quit, I think I only found one item that was marginally better than what I could instantly get for cheap in the AH. Ends up being far to transparent that you're just a robot counting clicks until you have enough to buy an upgrade from the robot store.
The only way to have fun is to play with other trustworthy people and have all of you agree to not use the AH at all. I think I would have rather enjoyed that, though the knowledge that I could easily get better loot in 2 minutes of the AH would still sour the whole experience.
well, that's how I felt about d2 trading or just having people hand your items or whatever too, so to me the ah is no different.. it's a loot game and if you take that out of the equation and you're just grinding for gold, that's not fun at all
I don't know about 'trustworthy' people though, are you competing against the people you're playing with? who cares if they're using it
and you didn't need to use the ah at all until you got to inferno, so I don't know how you got that impression at level 40?
now back in the summer when the prospect of getting your own gear from grinding the small amount of inferno you might be able to do compared to the AH... yah, that was extremely lame and frustrating
and now it's not like that at all.. i went back with the same gear I had this summer (that at it's best allowed me to do butcher runs and not even touch act 2), finished the game.. not super easy, but very doable and with the feeling of actual options with my build and gear
and now with monster power, you can scale up and farm quicker if you outgear normal inferno mob health and still get a challenge /w better rewards
and with that, all the great ideas of the game come to life, with being able to switch builds on the fly, changing out gear to fit your spec and playing totally different than you were 30 secs ago, without having to grind up another character with baal runs and shit