The +1 loot was a bust for me, but it happens, and I'm used to pulling vendor trash so I understand that I'm just not meant to pull really great items. So once I understand that I'm not going to be the one that gets the great loot I can accept that.
Does it make me feel any better that this is how the loot system is set up. No, I feel there are a lot of things that need to be taken out.
Most people would rather have either +6 str gloves or +15/+13 gloves of escape than a +3 str gloves of +7 gloves of escape and if Turbine dosen't want to take out the str gloves of Escape at least lower the minimum level requirement to the higher ability. If +3 str generates a higher minimum level than the +7 to OL, than use the minimum level req. of normal +3 str gloves, that way people can at least use them on a lowbie, and maybe even not feel so bad about getting a pair.
So what I suggest if the loot system ever overhauled is that the random item generator be changed is to get rid of high level things that only hand out mid level stats.
As with weapons, those are harder, people like having pure good and sometimes backstabbing or tendon slice on the back end of a flaming burst.
So I can't suggest anything with a solution as of yet.