MY raid started LK with an SK system. When we decided we didn't want to do 25 man anymore and devoted ourselves to 10 man I ran it with Master Looting and discussion + rolls.

Now that 80% or the raid has been running together for over a year and the rest of us at least six months, we've scrapped master looting entirely. People know what they need and they know what the raid needs. Need if you in any way need it cuz if you hit greed it's probably gonna get auto-sharded. Occasionally someone "needs" something more than someone else and they are free to make their case to the winner and receive a trade or the raid leader will need on a BOE just to make sure it doesn't get sharded, then it gets rerolled for selling or use.

We've had to make some tweeks in the system. For instance the Rogue always has priority on daggers while the Hunter always has priority on ranged weapons, if a one hander drops then it's open for both of them to roll on. It's funny when we sub people in and forget to mention it. When we know the loot tables we're looking at and the specs of the people we're playing with, loot is already half divvied up before we ever start playing, it's just a matter of seeing drops and getting them into the right bag.