I was surprised at the ratios. My feeling was that pre-hotfix Act 1 was better than Act 3 because it could be done much, much faster and had comparable drop rates on ilvl 61 and 25% of Act 3's for ilvl 63. But now it's even closer for all ilvls 61-63. So if it made sense to do Act 1 instead of Act 3 before the hotfix, it makes even more sense now.
Edit: Now even the best items only drop 3.4 times as often in Act 3 as in Act 1. So if you can get items in Act 1 about 3 times faster than in Act 3/4, you're probably better off there, and it seems to me that that'll be the case for almost everybody - you need crazy DPS before walking time starts dominating.