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→Magic Find Percentages
The actual % that is applied towards finding each type of item. Magical is full, Rare/Set/Uniques are less.
How much you want to wear should be based largely on these percentages. More always helps for magical items, so if you have 1000% MF you'll get incredible amounts of blue virtually every monster will drop a magical item. Want normal items. The weapons might be useful, but the odds aren't good. Charms and Jewels are not boosted by your +MF%, so this doesn't help with those. Best way to find more of those is to kill more things. Rares increase pretty well up to 600% MF or socketed items? Not so, but Set items really slow down past 400 or 500%. Uniques are much the same, but even worse in the diminishing returns. Notice that from 300% to 1500% only increases your Uniques MF% by 101%.
If you can get to 250-350% that's really all you need, in terms of finding Sets and Uniques at an increased rate. More after that generally doesn't make enough of a difference to be worth the equipment sacrifices, especially if you are playing Hardcore.
In addition to this, many monsters have unequal odds to drop the various qualities of items. Act Bosses have better odds to drop Uniques than anything else does, SuperUniques drop more uniques than random bosses, and so on.
=Magic Find FAQ=