I'm going to kind of jump around your post here a little bit, mainly going backwards.
"And don't tell me your going to include different loot settings such as "ffa" or "round robin". One less thing I need in this game to remind me of WoW. "
Pretty sure that's been confirmed to not be in the game. So no worries on that.
"One of the best things about finding something like an "elite unique" or "high rune" while playing with your friends is the satisfaction of being the one who got it.
Saying that I am the only one to see my own loot makes me less inclined to care, appreciate, or enjoy the excitement of me grabbing it before anyone else does. "
I completely understand this. I have one of the fastest computers someone can build right now. I have a great broadband connection. I have faster reflexes than most people. I was pretty much always the one getting the items (playing Diablo2 for so many years also helped my instincts of when/where to click). When I was with a group of people and an awesome item dropped my heart would race as I frantically tried to get it (usually succeeding). Sure the pickit bots would win if there was one there, but Diablo3 probably won't have things like that to interfere with my amazing clicking abilities. Knowing anyone could get that drop really buffed up the excitement and joy when I was the one to get it. Like I said, I get it.
But you know, I'm an objective individual. I also understand that when I was in a game, I pretty much would shut out 7 other people on items. When I played with friends / family it was the same way. Of course I'm a nice person and would always give them to whoever needed it the most, gearing myself up last, but I was still the one getting them. My best friend stopped playing the game without me, because he was one of the slower clickers in the game. If he couldn't get anything good, he wondered, what's the point of playing? He played mainly just to enjoy the game, not to rush for items. So when fighting a boss, he was paying attention to his health and his spells, and when to avoid attacks. He wasn't waiting for that near-death moment to rush in for items. Because of this, he never really got anything... where's the fun in fighting a boss if you're just staring at its life for when it's almost dead?
I will most definitely miss the excitement of rushing for items, even though I knew I'd probably get them. I'll miss that feeling a lot (as will many other people). But you know, all of my friends and family who play the Diablo series, along with any strangers in games that I'm in, will certainly be happy knowing that they'll actually be the one to pick up good items now that they have a fair chance to do so.
I'm very happy for the change they're making, even if it makes it a little less exciting for me. Why? Because I know that the people I play with, who I know, will have more fun playing the game now, and so will the majority of other people who don't have the super computer/ lowest latency/ fastest reflexes. And if my friends are having more fun, I'm having more fun, so I'll deal with the slightly less excitement from item drops.
... Now what I'm unhappy about though, is the fact that I play Diablo 2 with 7 people I know. So there's 8 of us when we play, which is a full game. Diablo 3 is shooting for 4 player games, probably (most definitely) not more than 6 players per game. This is what's really going to suck for me, my family, and my friends. Oh well, guess we'll make 2 separate games and hold races or something to keep it interesting.
-The perceptive Turtle has spoken