Andrek posted an interesting thought on the forums: remember loot drama? Sure, there's still loot drama floating around-- as long as there is more players than loot at each boss drop, there will always be loot drama. And maybe this is just nostalgia rearing its ugly head, but it seems like Andrek is right-- Molten Core was home to far more loot drama (Rogue weapon! No, Warrior weapon! No, Hunter weap!) than Outland's raids have been.
There's a few reasons for this. As players note later in the thread, Blizzard is much, much better at itemization now than they were back when we were raiding Ragnaros. And we're all in 10 and 25 man groups rather than 40 man-- fewer people means fewer arguments about who gets what. Not to mention that there's so much more loot now (and so many more ways to get it), that even if you lose that roll to a Hunter, you still get Heroic badges to turn in, or you've still got your Arena rating to count on.
It seems like loot actually means a little less now than it used to, and that's a great change. It's too bad that the old "hunter weapon" joke might actually be becoming obsolete, but less loot drama means more fun, and no guildleader will argue with that one.