It's interesting. I ran it three times, with characters between 294-298 light. My rewards were two legendary weapons, and one piece of armor, all with light values higher than 300 (for instance, I got legendary titan gauntlets at 310 light). So in my case, these were really amazingly good drops, as they pushed at least one character to 301 light, without any raid completions (disclosure: I have one raid weapon, a 308 sniper from the Warpriest, but I've never gone farther than that in the raid). I'm pretty sure that's an unusually good series of rewards. It also is much more beneficial for someone on the edge of 300 than for a Guardian higher than that. I'm almost curious if the higher-light stuff will drop for lower-light guardians [i]more[/i] often. But, I will say that the rewards I saw during this week's nightfall were far and away better than those from previous nightfalls I did after TTK.