It's not something to moan/cry about but that's not a significant improvement over the PC version that some people are expecting.
Also no need to Identify Yellows on the console co-op version! There might be identify for Legendaries though, they haven't gotten one yet.
Yeah, but what I meant is that the first two-three days (weeks?) of Loot 2.0 will be painful to watch. All the people who get bad drops will scream like mad, even if the loot 2.0 manages to actually get some nice items every now and then (which would be the point of it).
I really hope that along loot 2.0, a new ladder is available (yeah, dreams), cause people currently farming MP6+ are simply unable to appreciate anything but the top 0,01% of the items. To expect that to ever fall into their laps within a few dozen hours of gameplay is insanity.