Loot timer needs to be lowered to 1 minute.

[Denji]

Sometimes I need time to sort through the loot when there is a lot of it. But not the amount of time it currently waits. 90 seconds should be enough. 180 would be a compromise because it's better than what we have now which is far too long.

90 seconds is not enough. i would not lower it past 3 minutes. 5 minutes is fine though because assuming your party is competent the time it takes to kill each group of enemies between bosses should not take longer than that save for a few older, ARR dungeons that are absurdly long due to being remakes of 1.0 ones which were even longer.

a bad party, someone's refusing to do their job or is afk, waiting for a fourth person to come in because someone left for whatever reason, someone pulls because they feel the tank is taking too long, a 24-man raid where you have multiple impatient people and a variety of other situations means that a pull may take more than 90 seconds.

there is absolutely NO situation however where you -need- an item from a chest right that second. that's why ilvl requirements for duties exist. if you are in a dungeon it's because the game knows you should be able to handle it and those few extra stats from a single piece of equipment isn't going to improve your damage or heal output enough to make it worth having it right that second.