I now find myself in the camp who is really annoyed with Blizzard due to the item game. The drop rates are absolutely abysmal, and it was like a head-slap when I finally realized, "Of _course_ the legendary drops rates are abysmal, that's so more people will be motivated to try out the RMAH!"
Leading up to this game, I tended to not have a problem with the controversial "features" of online-only and a RMAH, because I was under the impression that it wouldn't affect my enjoyment of the game. But now I see that's not true. I've put about 40-50 hours into the game, while my wife and best friend have put in about 20-30 hours each, and between the 3 of us we have exactly 3 legendary items to our name, and no set items. I've been staying gear'd up by buying rares on the gold auction house for cheap, but I absolutely refuse to buy legendary or set items because finding those is a big part of the thrill of playing for me (not to mention they're so damn expensive). But I'm already starting to get discouraged, and I'm pretty sure that my masochism will get tiring far, far faster on D3 than it did on D2 when I spent several intense months trying to collect every unique/set item in the game (and I got pretty damn far on that endeavor, if I do say so myself).
Obviously, nobody should be able to find a bunch of the best items in a mere matter of weeks, but it should be visibly possible to do so within _some_ timeframe, even if it's measured in months or even years, and right now I'm not seeing the possibility of amassing a decent collection of legendary/set items in ANY timeframe without resorting to the auction house. It really is that bad, and has started me down the path of wondering why I even bother.
(And yes, I know many here would wonder why I would bother collecting unique/set items in the first place, and I have no response to that question. It's a malady that I am not particularly fond of, but I can't deny it's hold over me. I need a support group or something).