i have been wondering about magic find lately and how i could test out how it works low and behold i found out about a way to keep farming resplendent chests so i decided hey what a great way to find out.
Now for some of the boring stuff i had about 92% magic find, I tried 3 different "ways" to farm the chest (no magic find on) (magic find on) and (putting on magic find just before opening it). The last one is for some people who have been talking about chests/mobs that generate the gear that drops from them 3 screens away. i did each of these 10 times each i know i know very very very small results.
so those are what has happened so far i hope that helps some of you people i for one will probably just keep my magic find on but it seems to me it dosnt matter if you put it on right before you kill/open a chest.
I didn't find much luck with extra magic find gear either, it certainly doesn't make better quality items drop just maybe 1-2 more blues. I stack gold find instead of magic find, and just buy all the gear from the AH seems to work better so far. The trouble is everything that drops for me seems to be a way lower level and the wrong stats, so it's easier just to buy higher level items with the right stats from the AH. Gold find does seem to be making a massive difference anyway.