This is abundantly clear given the fact that you almost never find any items on your own that are actually any good.
You do realize that people found all the items in the auction house... right? If you farmed late game inferno, you would have found plenty of good items... but you didn't.
I played 90+ levels of D2 (via forced online DRM) and have 200ish hours of D3. You can say what you want but there was NOTHING fun or exciting about waiting for SoJ's to drop in diablo 2 so you could actually trade for an item you wanted. I've found plenty of "my own gear" in diablo 3 because I don't have the attention span of a goldfish. My inferno level monk is entirely geared with stuff I found on my own, mostly while playing my WD. I didn't need the items to be orange or green to make myself feel "special" about them.
Face it, you tried playing a farming game and didn't want to actually have to farm to get good stuff.
The loot drops in TL2 are NO different. There are more affix tags for items in TL2, yes. Does that make it better? No. More diverse tags means you have to get even luckier to get the combination of tags that makes an item useful for your character... doesn't it? Sounds to me like after ~20-30 hours of torchlight you will hit the SAME wall for item drops as people do in D3.