Honestly, I like the new loot system, I get excited when I see a Purple, or when my Blue turns into Ascendant Material. What I don't like about the loot system over all is the lack of diversity. I play a Striker Titan as my main, and every Green (armor) is Highlander, and every Blue (armor) is Knight. Getting to level 20 was fun and diverse, and people used what armor they found and made their character unique. Not with the 20+ levels, every Titan I come across is in the same damn armor, save for Exotics and Marks. I don't care about the friggin' drop rates, I want some damned diversity!
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Everybody has had the chance to get the same thing though from the queens mission. It is really good armor though