I know the loot was recently adjusted.
Regarding loot in Fel, I had about 1150 luck and was pulling weapons with multiple 40% stats, 16-19 LRC, and high DCI and HCI off a variety of high-level undead about a week ago.
This week I go into Fel and I'm killing the same stuff and they are dropping weapons with less than 25% stats, rings with crappy resists , little or no LRC, etc, and just junk in general. I did a quick comparison killing stuff in Trammel and I noted the loot was roughly the same.
I'm curious if this is due to the adjustment of loot or just the extreme randomness of luck. Last week I was getting good drops every kill for several hours. This week I have slightly more luck and horrible drops.