At what distinct percentages does one note a difference? Is less than 100 even worthwhile? Does it go up in increments of effectiveness? I currently have ( because I'm new and kinda bad at MMOing ) 73% w/ food on my level 46 char. but wonder if it is as effective as having just 50% or 60% or so. I'm using it to farm up those components but I did somehow get a rare in the process which was neat but I want to essentially restat and give more leverage towards survival and pulling / killing groups versus wasting time and energy one at a time.
To me I find I get better drops with no magic find. Did FotM this weekend 3 sets so 9 different ones. The first 6 I got 10 rares and an exotic plus tons of greens and blues. Last set we had a break before and it was going to be our last set so I popped MF boosters had the guild one and the BLC one which would put me at 60% if I remember right, I got 2 rares no greens no blues and a ton of whites.
There has been a lot of speculation on the official forums on how MF works and what not, to me its not worth it.
The way drops work (this is according to a dev post in the official forums from a few months ago) is there are different brackets of things a creature can drop. So when you kill something you get put in a random bracket that has various drops the higher the brackets the better the drops. The higher your magic find the better chance you have of getting into those higher brackets. I do not believe the devs have ever said the normal chances of getting in to those higher brackets or how much mf adds to your chances.
As for killing single or groups well each creature drops are independant so if you can kill 4 at a time go for it. Drops during events are better than just random mobs. Also devs have said that you get better drops when squaded than solo.
Just a final note, mf only applies to mob drops chests, be them jp, event or dungeon chests magic find has no affect on.
From what I remember there was the world loot table and fotm loot table but now I am unsure just how many there are and which have the best chances. I remember fotm had better drops than the world like dungeon mobs and event mobs probably due to the higher fotm lvl the better chances at loot brackets without the need for MF so when DR kicks in the advantage MF provides is too minimal to notice.
My Ranger has 140% MF and I don't believe that it is worth losing a helpful stat for. She did two dungeons the other day for her monthly achievement (Arah story and AC explorable) and didn't get a single rare. She also did several hours of Orr and got mostly junk. I am getting ready to craft her some berserker armor as killing faster is more useful than MF IMHO.
RNG is RNG. I am not sure how it works with MF, but assuming that it works as it says...
let's take 140% MF... and assume that you have a 2% chance to get a "rare" on each dead monster. With that MF your chance goes up to 4.8%, while its an improvement, it might not be one that necessarily shows in terms of actual rewards in a few hours. However, you might gain an extra gold each week from it.
meanwhile, the extra stats help you kill a monster in one less action, meaning that every 10 monsters you get an extra kill. Does that mean an extra gold per week also? It might be balanced in just that fashion. Who knows?
I never find useful stuff in the field anyways, i just sell and buy what i want from other players. IMO MF is not even worth it, but for those who are farming for gold, it would essentially equate to a must have so that they know they are optimizing.