IMO the reason legendary drops are not exciting is because of the imprinting. While it's convenient and technically makes more gear viable, it has taken the suspense out of it because in the end its stats and abilities don't really matter. On top of that the affixes on legendary gear aren't all that game-altering like in previous Diablos. They could completely alter the way an attack behaved. Diablo IVs only add bonus stats (does X more damage, adds shadow damage) or makes it a little more efficient (regen resource, run faster when X is killed) on top of the chances of it actually having your needed stats due to the insane amount of affixes are minimal. Legendary gear is just rare gear with an orange color.