what is magic find again?
As a stat it continues until 300%, but can be buffed above.
As for how it works, I quote from wiki;
“Everytime you kill a monster you roll on a number of tables, inside these tables are different rarity categories. Magic find increases the chances you will get higher categories. For example if there is a 1 in 10 category, and you have 200% magic find you will have 3/10 chances to get that category. This improves not just the rarity of the items you get but can also improve your chances at getting trophies and rare crafting materials like lodestones.”
ie it will improve your drop rates, but marginally and only noticeable over a period of time. Many people will give anecdotal info about how their drops are or aren’t better (mine have improved for eg, but some haven’t noticed anything) – only you can decide if you are benefitting from it.
300% plus item bonuses.
Think of it this way, it’s X% more than the normal chance and NOT X% + normal chance.
Also, remember the wiki is your friend. And it doubles as the game’s in game help.
RIP City of Heroes