I was about to swap over to ML for a HM Xeno I put together the other day, but as I didn't set it from the start I felt that I would basically be telling everyone in there that I didn't trust them so I just left it alone.
Good call...after the fight starts changing the loot rules makes me think the leader can't be tursted and on my healer, I would just hit escape and jump out of fight, if I didn't know or trust the leader.
Nothing wrong with Master Looter. To me it is the way to go in PUGs, otherwise you get people needing for alts. Just have to trust the leader to be honest, not setting Master Loot means you have to trust everyone. Still easier not to want anything from a PUG, but comms, but even then it is too much drama for me when people are stealing others drops, so I watch the drops and quit the group if there is dishonesty happening. Not worth my time or enjoyment dealing with jerks when I can easily find a group I know and trust.