Something that often doesn't come up during these discussions but that I've been a part of to great effect previously (albeit in WotLK rather than Vanilla) is Gold-DKP
There is a simple set of rules that determine the system, explained here
. Essentially, items are auctioned for gold, all gold goes into a central pot that is then evenly distributed amongst the raid at it's conclusion.
This system was used in Gevlon's (The Greedy Goblin) guild on Aggamagan-EU, The PuG
. That guild was made up of people that liked to earn gold, and so the system worked well.
Individual items were worth a certain amount to each person that wanted it. If you wanted the item more then you would bid more. Your available DKP was nested in your ability to make gold outside of a raid environment, though participating and getting no new items would still see you making a profit.
There are criticisms against this system, namely that there is no way to guarantee that your MT that comes to every raid is guaranteed the Amazing Shield of MT Power
over someone else that has a bit more disposable income and therefore no way to ensure that the progression of the guild is maximised, as is the case with Loot Council.
What Gold-DKP does provide is a stable and impartial method of loot distribution, assuming the pot holder is morally sound.
In The PuG the pot itself and the desire to weed out bad practice meant that penalties had to be paid for mistakes made during raids as well, which helped further incentivise preparation.
Gold isn't as common in Vanilla, but all that really means is that the items that used to go for 1250 gold in WotLK will go for 125 gold in Vanilla.
Like I say, this won't appeal to everyone, especially those who felt that they only made enough gold to scrape by in Vanilla anyway (looking at main tanks and MT healers who typically had to respec 4x or more every week just to float), but equally it may well forge a way for these classes to not have to farm as much, if they're getting the gold they would have looked to farm anyway.
The PuG has a 'no communist collective' rule, but its equally viable that off-tanks may understand that the MT could use a specific piece of gear to improve progression and therefore hold back on bidding.
I myself was in The PuG as a Warrior off-tank and never felt like I was getting less than I deserved when I raided, probably more so than when I raided using classic DKP as a Mage in Vanilla.