Gnomeaggedon has a really insightful post about one of my favorite "hidden" features in patch 3.1. The first time I ran Naxx after the patch, I was a little worried on the first boss that I couldn't loot my badges or Stone Keeper's Shards. But of course, I'd missed it in the patch notes: all of that currency stuff now works like currency should. Whenever one person in the group or raid loots it, everyone gets their own as well. No more forgetting to loot your Badge, as it all goes automatically into the currency screen. Very nice change.
But as Gnomeaggedon says, there are still a few kinks in the program (aren't there always?). Quest items still don't get auto-looted, and since Badges do, that's even less encouragement to go check the loot to see if there's anything you need. He'd also like it if items got autolinked while Master Looter is on -- right now, it's the responsibility of the Master Looter to link and give out items that get looted, and that doesn't always get done clearly. That second one is kind of a good point -- my raid looter does pretty well with showing off items, so I don't really have much of an issue with that, but it would be helpful to see for sure what's in there.
But back to autolooting: the flip side of this is that if Blizzard uses autolooting too much, the game becomes that much more simple -- they already show you where the monster is and how to kill it, and now you want them to give you the loot automatically too? While it would be easier to have quest items sent to your backpack automatically, let's not forget that mobs with loot on them are shiney. It might make sense in raids to do autolooting (since everyone is grabbing for the same quest item), but autolooting while soloing might be a little too streamlined.