If the potential gear drops from bosses are going to be this low of a percentage in the drop system, then we should be able to do the Raid at least three times a week instead of once on normal and then if possible once on Hard just for boss loot. Having three attempts on normal and only having the reward you once and each successive time you can only get loot from bosses would be a fair compromise in my opinion.
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Have a read of some of the other suggestions: http://www.bungie.net/en/Forum/Post/77092169/0/0 I think we don't need to lift the whole one reward per character per week thing, we just need to refine the current system so things you've already gotten are less likely until you get things you don't have. The addition of a raid vendor would also help to ease some of the problems that people are having.