I got a MRD's axe on approximately our 4th kill. We then proceeded to kill Ifrit 2-5 times nightly for the next couple weeks, and I got my 2nd drop a few nights ago (was somewhere in the range of 60+ kills with no drop). Guess what it was, that's right, another axe. Love this system. However, over the next couple nights I've gotten a sword and a thm weapon, so my luck finally changed over a long period of time.
To those having crappy luck, keep on keepin' on, eventually it'll happen. This system is terrible, and they are now going to change it, but the change can't come soon enough imho.
Drklighter of FFXI on Cerberus
Biggs Darklighter of FFXIV on Kashuan