I get pink drops constantly. The standard gems drop frequently. I got about 10 pinks and 5 vanities just last weekend from about 8 hours of playing. If you are looking for the really rare drops, then yeah, that's basically impossible to farm.
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i entertain myself by annoying my friends with DM invites :-) i hit bloodfiend on my lower lvl toon (doomdoomdoom)...now im finally starting to do DM with my lvl 31 toon (doomdoom). i am ok as a lvl 19, but currently trying to figure out how to suck less against all those scary lvl 31s.
Aside from that, i pretty much only do missions when someone invites cuz they need help.