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Well, fantasy doesn't necessarily have to be like the Middle Ages (and besides, all these conveniences are minor compared to the world itself))). It can be altered, modernized... or adapted to be trendy, with all sorts of earrings, hairstyles (remember the portraits from games like Baldur's Gate and Neverwinter Nights; they don't put five earrings on each ear themselves), besides establishments for the aforementioned trendy things, you can come up with many more... almost everything that exists in sci-fi, except for flying on ships... although, if you have imagination, you can find something similar here too, like flying cities (the main thing is that it doesn't look stupid and fits into the world)...
And by the way, remember Arcanum? There, there is both magic and technology, which makes the world even more interesting... IMHO =)
Vikh, you don't necessarily have to be a hero who has to save the whole world))) you can easily get by with being a regular adventurer traveling the world... or something else x)
P.S. In general, if you have a good imagination, you can come up with a fantasy that won't be inferior to sci-fi :)
P.P.S. Might and Magic is fantasy! And we're all here, which means we all love fantasy!