Unless you've been living under a rock you are probably aware of Diablo 3's first expansion, Reaper of Souls, being released next week on March 18. What you might not be aware of is that a couple weeks ago Blizzard pushed out Patch 2.x which released the new loot system and account-wide paragon levels. These new paragon levels no longer add magic and gold find, but rather allow you to enhance your character's progression past the level 60 limit (and eventually the new level 70 limit).
For a detailed account of all the new patch notes, see the official Diablo 3 page.
During the week leading up to the release of this new expansion, all characters of any level are being given a +50% experience bonus, and those currently taking advantage are also speculating that the current drops have been upped quite a bit on the level 60 and below legendary and set items.
One thing to note is that these excessive drops do not seem to currently matter what difficulty setting the game is at. For example I was able to complete the game on Torment Level I and II within a group of four. I found two green set pieces and four legendaries, of which only two were usable by my Demon Hunter who I was playing as. The other legendaries included a two-handed sword with 600+ intelligence for when I want to solo with my enchantress, who now is looking at 42k+ damage and a shield I may use for my Monk hen he is “tanking”.
However, I then went back and did a private solo game through normal, which took me about 3.5-4 hours as I killed everything I could find and netted myself six legendaries and one green set item, all of which I could use, but three were gloves I have to decide on.
I should note that while these new legendaries replaced my previous ones, I had already replaced many of my set items such as Natalya's set items I had with new rare yellow drops. This had been a little disconcerting, but as the new patch states and the new levels that are out the expectation is that new items, especially those from levels 61 to 70 will be ridiculously powerful. Expect that 150k damage (with Sharpshooter) my fellow Demon Hunters are at to be worthless come 70, likewise goes for those in the 80-100k range without the Sharpshooter passive.
On the plus side it means my monk will get some dexterity hand-me-downs, at least the non-DH ones, and I'll finally have some items I won't miss for salvaging crafting materials.
Of course, pre-orders are still available for those wanting to get their in-game shinies before March 18.