I agree the WoW lockout and drop system for raids did work well.

I don't see our current content being equal to raids though. Raids were huge instances that took 15 or 25 people. I see our instance content more like the WoW dungeons, short and repeatable that only took 5 people. If we have raid like content, I could see lockouts being worth while. Current content just doesn't seem to be on the same level.