Snack-Attack It can seem that way, getting better items the least times you have died. However I have received crappy items more often than not killing without dying. One scenario that comes to mind is finding my first SOJ on a Champion in Act IV. Damn thing was immuned to everything - it seemed. I died about 4 times (could have been 5) and a unique ring dropped. I figured it was going to be nagel or something, and it was an SOJ.
Anyway http://classic.battle.net/diablo2exp/items/basics.shtml if you scroll down to the bottom it should help you understand item and item drops.
4thdimension Why not post something semi-useful to how item drops work, rather than a meaningless link to magical thinking? Furthermore how is a theory (really should be a hypothesis) magical thinking? Simply noting that something has been happening when he/she dies versus dying less and wanting confirmation does not appear to fit that thinking error - despite the level of wishfulness/rituals that may be apparent.
Laneth Your examples are interesting. I don't know if I entirely agree on the impact of your insinuation. I have legitimately received all red-lights not being in a hurry. Both girl situations could be haunting, and both are remembered as impactful and have occupied my thoughts from time to time. If the objective is to seek good items and you get crappy regardless you will remember. If you start noticing patterns, you start forming hypothesis (even flawed ones) and will limit your efforts. For example I have yet to receive a decent drop from The Countess.
Luciferus667 Some of my best finds have been with no magic find. In fact I have yet to find a quality unique or high rune with high mf. Although, drops are more frequent the more MF I have.