I think it would be great if the PL rarity system would return. It would include the nice mob drops of nuris and fang that can be liquidated for easy money, the boss drops that are usable reguardless of variety, and the elimination of trash pinks.
So the dungeon would work like this: You clear the mobs, resulting in gray and white trash drops, then you move onto the boss that could drops oranges, greens, purples, and pinks. Any minibosses would have same as boss drops except pinks would be excluded.
Any other suggestions or critiques of this idea?