I just got my drop yesterday night and I was so stoked that I wanted to share my story.
Note: I used my level 60 barb to farm.
I'll make two sections on this thread. One section on my thoughts when I was farming it and another on how I found it.
I first heard about the signet about a few weeks before 1.0.5 was released. I read the forums and heard people were lucky enough to find it within 2 hours of farming, so I decided to give my luck a try. Hours and hours passed and no ring. I tried different routes that were recommended by other members. I wanted it bad and was getting pretty upset that my luck was so bad. I farmed about 80 hours, ~1.5 month before it finally dropped for me. During my time of farming, I have found more than 3 pages (inventory chest) of legendary drops. How did I get so much? +400MF and MP10. I got a drop almost every run. Had 2 drop from one Elite before, and had three drop in one run (it's possible). Before you think these legendary drops are worthless, think again because they are worth some gold in the AH. I have made ~10mil from selling only half of these low leveled legendary items.
If you want the ring badly, for any reason you may have, don't get discouraged from the amount of time you are spending to farm for it. It WILL drop sooner or later. Even if it doesn't drop sooner, you will still get other legendary drops that you can sell for gold.
[Leoric's Signet Drop]
I had my MF over 400. Movement speed was at 24% (12% from boots and the other 12% from Lacuni Prowlers [legendary bracers]) The faster you move, the faster you can farm. I also had my gold pick-up radius at 14 yards. I figured if I was going to farm, might as well pick up some gold while doing it. 7 yards from boots and the other 7 from pants.
The main skill that I used was sprint (with tornadoes). I also used warcry to replenish some of my fury when I was low. I used cleave, charge, and seismic slam to clear out large groups of monsters. As for the runes and passive skills, I forgot what they were (too lazy to log in and jot-down every one. sorry) but I used runes and passive skills that helped my fury regeneration. More fury, more sprint. That's how I saw it.
Having the scoundrel use his triple shots made the runs a lot faster.
Vault of Assassin for 5 NV stacks (clear everything)
Sewers of Caldeum (clear everything. including rat's nest and bloated corpse)
Ruined Cistern (clear everything. including rat's nest and bloated corpse)
Path to the Oasis (clear EVERYTHING here. every monster, every cave, every den, anything that you can break or open.)
I have read so many forums, and many have said they have found it in different parts of the Oasis and it did drop for me in the Oasis. To be more specific, it dropped in the Forgotten Ruins. A group of regular skeletons dropped the ring. The ring was actually the second legendary drop in that run. I would advise you guys to play through your entire route, regardless if a legendary have already dropped for you. If I had restarted my run after the first drop fell, I would have missed the ring.
Strength - 33
Crit - 1%
Bonus XP - 30%
Pick up radius - 7 yards
So, to all the Signet farmers out there, don't give up if you want the ring badly. It will drop. Good luck!