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I took my time clearing Normal difficulty, killing every mob, searching every cave and revealing every part of the map.
It took me about 30h to do so with a MF-Wizard, having around +40-60% MF all the time.
During which 92 rare and 2 legendary items dropped for me. I needed to create 2 mules to store them all :-)
Looking at the numbers, I got roughly 3 rares/hour or 1 rare/20min. This seems quite a lot in my eyes, but I haven't read much about rare drop rates anywhere, so this might be by design.
For the shiny orange stuff, I got 1 legendary/15 hours.
I do realize that a lot of variance comes into play, taking rare mobs, random caves, events and luck into consideration. But I'm interested to see how your numbers relate and how much variance there actually is.
I'll try to update my numbers, when I cleared the other difficulties with this char.
(Keep in mind that I only counted dropped items, crafted and bought yellows are not included.)
Be aware that farming becomes so much infinitely easier after you've reached 60 because of the valor buff.
I'm not one for rushing. But at the same time, being a completionist doesn't really work in this game. Getting to 60 should be your first goal that you dump all resources into - then you can start in on MF. And I mean *all* resources. I didn't even bother leveling up artisans past level 7 once I realized this.
Better run with no MF gear and kill higher level monsters dropping higher level equipment than run with MF and kill lower level monsters.
As for drop rates, well, when I kill more stuff more rares seem to drop. That's about as far as I'm willing to go for determining the drop rates. That and when you have valor buff the big bosses seem to drop at least 2 rares and on some odd occasions 3.
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