No one is considering to wear MF gear while farming. (At least no one with a bit of sanity left.) MF gear is rather nice for those who decide to switch gear before getting caches or gambling, though no one knows if MF affects either of this.
Thanks Vomica for being among the very few who realizes that on level 70 even BiS level 60 gear will probably not prevail, at least not in the long run. I've seen way too many people screaming "keep item/set X"... I think a lot of people are wasting millions (if not billions) on gear that'll be trashed in early April (even salvaging won't be worth it).