A - Give the party leader the option to select which raid system the raid group will use.
Select everyone getting a chance to loot (as proposed in the new system) or select the previous system where two items drop.
B - Keep the two loot items but add tokens.
Keep the system as is (two raid items per raid), and add rare Khyber Dragonshards based on difficulty of the raid. Dragon Raidnormal rewards 1, Dragon Hard rewards 2, Titan normal rewards 3 (you get the idea).
These Khyber Dragonshards are prized by a powerful artifacter wizard who has access to create rare and powerful items (aka Raid loot). Each item would take a varying amount of these special shards. This could be used to scale the current crapola raid loot like Ruby Gauntlets which might cost a few shards to more powerful items like the Dragon Sword which might cost dozens.
C - Tokens only for the raid end chest.
See above for details of how this might work
Giving Players options will ALWAYS limit or reduce disagreement about the 'right' way to reward loot. If Turbine is against a token based system, then option A is the way to go and will result in the most satisfied customers.