Incase anybody needed a little extra explaining:
Free for all: Once the enemy dies/loot opened etc, whoever is there first can grab it, no restrictions.
Round Robin: Everybody in the part/team will take turns looting, the system automatically round robins the loot and it's only lootable/visible to the player able to loot it.
Die Roll: Every does a random die roll for the loot, whoever is the luckiest wins.
Favorable Die Roll: Same as die roll, except if anybody has a NEED for an item (for example the game drops a sword, and only one person in the part is actually using a sword and either A) signifies a NEED for the item, player can also choose to go for a regular die roll if he/she doesn't want it, or B )The game automatically looks at a player's class/equipment, seeing one player is using a sword, gives them the advantage and a better chance of getting that loot, or even guarantees it will go to that player. If two players are using a sword and both qualify for the loot, whoever has the weakest item has the better chance.
I personally prefer the last one, it was a system I enjoyed in WoW, even though people would roll NEED when they didnt need the item, sometimes greed takes over, but it limits the majority of greed. If the system recognizes loot/stats, it would help eliminate it even more. I can't stand free for all looting, it's the reason I quit borderlands, because I have scummy friends who will run past all the enemies/bosses or just race to boxes and take EVERYTHING and share NONE of it. Also a problem with randoms. Opinions?