I'm not sorry to repeat this, because I want it to be as clear as it can possibly be to Bliz - that it's anything but satisfactory.
They should NOT have made legendaries largely inferior to rare items with good stats.
1. Make Legendaries and Rares potentially EQUAL in raw power - but make legendaries STAND OUT through unique and fun powers/procs. Also, take into consideration that AH is now an integral part of the game (just like the in-game vendors) - and adjust the drop rate accordingly. Seeing dozens and dozens of the same "rare" legendary item on the AH - is very off.
2. Make a LOT more interesting loot mechanics. I mean stuff like crushing blow and more gems/runes. You said yourself that balance isn't top priority - so where the HELL is the cool/fun loot?
3. Have you played Borderlands/Hellgate? You know what those games did that was so brilliant and which you failed to emulate? Make ALL weapon types FEEL unique. In Diablo 3 - every single weapon is a boring DPS facilitator. There's absolutely no reason to care about a TYPE of weapon and how it feels for your character. The Monk animations issue is especially telling of this.
How Blizzard who're still masters of moment-to-monent gameplay and polish can mess up something like this SO badly - is shocking. It's a clear sign that Blizzard North understood something about long-term gameplay that this Blizzard utterly fails to grasp.