I know the idea of welfare epics might attract some flaming, but hear me out.
If you are like me, you farm for gear in Inferno when you have some free time. You farm for an hour, maybe two, and find zero gear that is even remotely good. You do it again, and again... but still nothing. Frustrating right? Want to quit? Yeah, me too.
But if each champ pack/boss dropped a Badge, you could be grinding/earning points towards gear that is useful. I'm not talking BiS gear, but some decent stuff. The idea is, you slowly earn some currency that can be traded in to a vendor for gear rewards. There could still be some randomization/rolling involved for sure.
I think this technique was a huge success in WoW because it gave people motivation to farm the same content over and over even if they weren't getting the drops they wanted, or if they didn't need them at all.
This is why you have gold, so you can go to the AH and buy items. This is also why you are able to sell items on the AH. All you have to do is look at the items dropping and figure out that while they may not be upgrades for you, they may be upgrades for other classes. Sell those items. There is your welfare points.
What you're asking for is that each enemy drop some form of currency, and when you have enough of said currency, you can go to a shop and trade them in for decent gear? Isn't that the current system? Each enemy drops gold or items which can be vendored for gold; after you have enough gold, you can head on over to the Auction House and purchase decent gear.
There was a similar idea/thread recently, but then you'd also need "standard" gear to trade those badges in. What stats should those have? Just mainstat, some resist and vitality? I'd prefer having some logical moves, making random properties slightly less... random.
Class exclusive item? Guarantee the class' main stat on it.
Weapons? Always have some sort of direct damage (+min, +max) increase on it (also on magical ones, greatly helping plowing through the game even without spending something in the auction house).
There will always be an item hunt but having to play lottery on every single slot to get exactly THOSE 6 property correct and at nearly maximum stats rolled is ... tough.