Greetings.

Due to lack of loot system and consequences concerned with that problem, we decided to create our own instance loot sharing rules. Assuming that party is able to decide who takes what from main mobs by compromise or rolls if necessary, this system is designed for random/not needed, mostly bop items.

1. Simple elites. At the begging of raid all players determine random numbers from 100. Highest scores start the queue. Whole simple elite drop is taken by player with current turn. Money and normal drops from item mobs and bosses count as simple elite drop in the same queue and on the same rules.
Example: Velf, Revz and Kura roll: 25, 75 and 50. Revz is 1st, Kura 2nd and Velf 3rd. They are going to kill four mobs in following order: Rockwing Gargoyle (elite), Crypt Crawler (elite), Nerub'enkan (item elite), Crypt Beast (elite). Revz takes whole loot from Gargoyle, Kura from Crawler, Velf money and Alterac Swiss from Nerub'enkan, Revz again from Beast and so on..

2. Item elites and bosses. At the begging of raid all players determine random numbers from 100. Highest scores start the queue. One random/rare/not needed item in top of loot window is taken by player who has the turn. If more than one item shall drop, next person in queue takes the 2nd item, it must be 2nd in order of random/rare/not needed items and so on. If there will be no random items, queue keeps still, players don't waste their turns. 
Example: Velf, Revz and Kura roll: 10, 30 and 20. Revz is 1st, Kura 2nd and Velf 3rd. They are going to kill three item elites in following order: Magistrate Barthilas, Ramstein the Gorger and Baron Rivendare. Party decided that Revz takes mace from Baron, Kura cape from Magistrate and pants from Baron, Velf ring from Ramstein, all other items count as *random*. Magistrate dropped in order: braces and cape - Kura takes cape, Revz braces; Ramstein the Gorger: only ring - Velf takes it; Baron Rivendare: gloves, mace, pants, dagger - Revz takes mace, Kura gloves and pants, Velf dagger. Next item elite is Revz's turn to loot random item. 
Note: Velfur needs Runeblade of Baron Rivendare (rare and bop). If it would drop, he should take it out of any queue. If more than one person needs rare bop, they should decide who takes it before killing mob, or if not prepered, roll immediately while looting, highest roll wins.

Creating another, third queue for normal mobs and their loot is unnecesary since their items are simply not worth it.

Those are my suggestions, but if you have a great idea how to make this system better, don't be shy to post it here.
Khaine..