Cyeron, this was an excellent and most well thought out post. You have cleared up several misconceptions for me.
I'm a barbarian with about 150MF and have cleared Act 1 inferno a number of times working towards trying to survive Act 2.
When I first made a move towards MF, the difference was clearly evident. But I do have one request. Would you be willing to do some drop tests with full NV and going through elites, champs, goblins, and bosses? That is the case I think most people would be interested in now that you've cleared up all the mechanics without any NV.
For the record, I have seen two legendaries drop -- with max NV around 200 total and both were worthless junk. Both have been off random elites. I got exhalted plans for chestplate that dropped off the first group of zombies I ran into the beginning of the game when I didn't have any NV. Best 1H weapon I've seen so far is a 820dps mace that I'm using now. I've seen 3-4 1H weapons in the 700 range.