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Normal vs Torment 1
I had some doubts about efficiency of bounty farming, so I have decided to test it. The sample is not huge, but I thought it was enough to give me some insight into time spent vs reward.

Conclusion: normal and torment 1 is completely the same, I have got 6 legendaries from normal and 4 from T1 cashes. As others have said, drop chance is increased starting at T2. So I will need to contact my T1 farming groups and tell them we were wasting time

from my understanding, normal all the way to t1 difficulty have the same drop rate. if you're going to farm in that range, might as well go normal

The loot from a Horadric Cache won't change based on the difficulty, but Torment 1 does offer incentives (like an increased drop rate, gold and experience) that help while you're earning a cache. If what you want is to get as many Horadric Caches as possible then a lower difficulty might be optimal, though, since all of the benefits for increasing the difficulty to Torment 1 exist outside of the cache specific loot.
http://us.battle.net/d3/en/forum/topic/12504580894#new-post

Drop chance is = BUT gold/exp and torment level legs drops are not.

I can only hope this might easy the facepalm surely occurring at this moment...

Quote from oldschool_2o4f

Drop chance is = BUT gold/exp and torment level legs drops are not.

I can only hope this might easy the facepalm surely occurring at this moment...

I think, that if You want "gold/exp and torment level legs" - You should farm rifts. If You want caches - You should farm them on normal, to get as many as possible for the shortest time.

If you run after two hares, you'll catch none.

Torment levels 2-6 have an INCREASED chance to drop a leg from the cache...not Torment 1. Recent patch, 2.05 (?) addressed this.

Quote from m7m8m9

Quote from oldschool_2o4f

Drop chance is = BUT gold/exp and torment level legs drops are not.

I can only hope this might easy the facepalm surely occurring at this moment...

I think, that if You want "gold/exp and torment level legs" - You should farm rifts. If You want caches - You should farm them on normal, to get as many as possible for the shortest time.

If you run after two hares, you'll catch none.

Not really. I always want more gold/exp/leg drops/salvage materials, and running bounties in T-4 makes me happiest at the moment. I truly feel the increased drop chances of teh caches while real, are almost insignificant, at least in my limited sample size experience. (RNG sucks) so if I'm going to get caches that don't drop what I want, I'm going to get as much everything else I can in the process. BUT, that's just my mindset. Having actually gotten two drops this week, I am avoiding act1 for a bit...
However, IF i was soley looking for the extras and NOT a cache drop, I agree whole heartedly.
I just like the chance of two birds with one stone, see what I did there?

Quote from oldschool_2o4f

Drop chance is = BUT gold/exp and torment level legs drops are not.

I can only hope this might easy the facepalm surely occurring at this moment...

Lol, word of mouth got me tricked I was really convinced that they have increased it, starting from torment 1. God, I was, like, 100% sure. Oh well, facepalms happen sometimes This thesis is totally irrelevant then.

@Bagstone: I have edited my first post, there is no difference whatsoever between normal and T1 drops (the result of testing, and blue post I missed )

True, but it doesn't address which is quickest. Not sure it could honestly.

Quote from pewpewzzz

first of all, to OP, your sample size is way to small for rng not to play a significant factor..

Agree, will do 100 T2 cashes, and then make 100/100 comparison. Still small, but will satisfy my curiosity