So yeah, the other day I was thinking of a formula about the drops and I came in conclusion of this:

If you don't have all DoW and DoM level 50 the system will do this:
1 - Looks at your data to see what is the lowest level
2 - Decides that the lowest level is! Gladiator 22.
3 - Decides on a percentage of the drop by 100% of total level. That is 44%.
4 - From those 44% the system divides by 2 (The amount of 50's you have). Making the actual a 0.22%
5 - For each wipe the percentage is increases by 1%.
6 - After 10 wipes you leave the party and the next day is back to 0.22%
7 - After a successful run within the 10min, your chances are 1% for each minute left, making a total of 25.22%.
8 - Each /dance, /pose, /psych, /whatever... drops the rate to 0% with a 50% divided by 2 (number of 50s) to drop a totem instead of weapon.
9 - After 20 runs of success you get your first weapon, and guess what?! It's a Blade. Check number 1.
10 - After more 10 runs another weapon drops, guess what?! a Blade.
11 - After more 10 runs another weapon drops, guess what?! a Blade.
12 - The reason why the system gives you 3 blades is because, you have 2 retainers and your inventory. If you don't put the blade on those inventories he will just keep spamming Blades.
13 - After the 3 Blades dropped and you get on your 60 successful run, the system decides that since you have a 50! I will give you this THM Weapon, so he gives you one.
14 - After more 20 runs he decides to give you 1 totem every 5 runs.
15 - When you reach the total amount of 5 stacks of DM he gives you another totem.
16 - Repeat with another low Class.
17 - Guess what?! Axe Dropped, my MRD is level 23.
18 - And then the story continues.
19 - If you are a Lucky Bastardo! You get the weapon you want in the first run, and the following 3 you get more 3 different weapons. True story! (19 only works on Moogle)

If you have all DoW and DoM level 50 the system will do this:
1 - See how much time you spend on a 50.
2 - He decides that you are the tank so! He will give you the Axe last and Blade last.
3 - The first weapon too be given is of a class that you don't use like... THM or WHM or MNK.
4 - You cry deeply and the chances drop to 0.0002%
5 - The rest is unknown.

Note: I just made this for pure fun, but the first part is actually true! Is what happened to me.