Well in that case Shandlar's math is correct, but you are still going to take 3 x the time to obtain the 3 x better loot, its still a wash in the end, and dont forget that you need to be way overgeared to do this.
Yes, but in the case of loot being about equal, it's worth remembering the XP rate. In that case lower MP will give you same loot/hour but much more XP per hour than higher MP. It seems the math at least partially supports switching to higher MP at max paragon, which is a bit of a surprise to me.
Yes I'm pretty surprised as well, never knew that the bonus item would always be "gear" because the blog wasnt clear about this. I've been alternating between MP5 and MP0 for my alkaizer runs because I've not actually noticed a huge difference in loot/hr, I only did MP5 out of boredom. I will however, only run MP5 now because I get a 36% chance of a bonus item (equates to 1.08 additional item per mob) and it only takes me 50% longer time to clear it.
I'm thinking MP5-7 should be where its optimal for loot, it takes a significantly longer time to run them but its not so bad as to negate the item drop bonus on those MPs.
Btw thanks to all the contributors of this thread, this has been very informative.