Looting in Mist of Pandaria explained

An explanation of the looting way in current cataclysm and the next expansion.
Here is how looting works in today’s Raid Finder groups:

1.     The boss dies.
2.     The game randomly decides which items off of the boss’s loot table drop.
3.     The group rolls Need, Greed, or Pass on each item.
4.     If you were raiding with a group of friends, you might discuss who should get each item. Even if you ultimately lost, hopefully you are happy that a friend got an upgrade and that your group as a whole is now a little bit stronger.
5.     But if you’re in Raid Finder, you are quite possibly alone with a bunch of strangers.
6.     So, if you can Need, you probably do, because there’s no time for discussion, some of the rollers may be AFK, and even if you piss someone off, you aren’t likely to have to pay the social cost of doing so since you’ll never see them again.
7.     The highest roll wins.
8.     Drama ensues.

Here’s how the new Raid Finder system will work in Mists of Pandaria:

1.     The boss dies.
2.     The game automatically decides who won some loot, and gives those players a spec-appropriate item.
3.     Some players may still get mad, but hopefully they are mad at the laws of probability and not at the rest of the raid.

Read the full blue post here.