On this topic I think it would be nice if there were options for the party leader to choose the looting system. I think the types of systems should be added so that the party or raid group can set the system that speaks to their group while still giving everyone the option to play the way they want.

1. The current system (best in normal parties)
2. A need/greed/pass system like in other MMOs. (I would also like to see the option that allows players to setup an auto roll setting on different types of items. Warhammer did something like this for their RvR system so players wernt bombarded with pop up windows for loot)
3. Bag holder - good for team farming, the loot goes to one person who the leader chooses. - FFXI had this and it was good for group farming sessions.
4. Rotation, items are assigned via a round robin system.
5. Auction - points are awarded to party members who help in fights and players can use those points to bid on loot, and if they win they spend the points on that loot. If all points are spent and there is no more bidding then the leader can choose to auto loot the rest of the items round robin style or the party can keep going to earn more points.

Are there any other systems I'm forgetting?

The more options the better, not that they have to use these ones, bur different parties have different needs