Question about loot distribution and MF values

[403Forbidden]

Lets say you meet a mob. Is its loot already generated the moment you meet it, or is it generated when it dies?
To put it into better perspective: Lets say i meet a champion on inferno. I kill all except the actual champion, and bring it down to 1% hp. Then i swap my gear for full MF gear even if i lose all my stats. Then i land a killing blow.
Will that be effective way to obtain additional items, or will the loot stay exactly the same?

As a DH i got the smoke screen = i got time to run away and swap gear easily, so if i CAN do this, it would be a great way of farming, since i could completely ignore any stats other than MF for that last hit.

[JD]

The loot is calculated as the mob dies. Putting on your MF gear before you deal the final blow will give you more items.

[Valemas]

Is this the same with chests? Or is that loot already calculated?

[Macpod]

Same with chests.

[Crysto]

The loot is calculated as the mob dies. Putting on your MF gear before you deal the final blow will give you more items.

Didn't they remove the W switch for this very reason?

Surely they're not that stupid.

[heavenhawk]

Didn't they remove the W switch for this very reason?

Surely they're not that stupid.

what if you start the fight with MF gear switch in the fight and switch back to MF to kill him?