I'm fine with random loot (helps with replayability), though it would be nice if the minimum quality was a little more consistent (especially for quest rewards and special chests). I don't think you would necessarily need to group items (though that happens for some containers in D2:ED), but if you can get a fairly nice piece of equipment from a chest, the next reload shouldn't be a lesser healing potion.
However, I've found that I tend to get better loot if I have not loaded the game for awhile. A couple times I've saved and then opened a chest to get something pretty good, but not as good as expected, reloaded and got worse stuff, then became annoyed at myself for not saving after the first try, and reload for 5 or 10 minutes to get something as good. Except for the beginning of the game, though, I only reload for quests or some chests (that need passwords or were well hidden), and usually only a couple times.
