Yes, the drop rate
significantly decreases at level 71 and beyond. I've climbed up to 77 or so before and it was dramatic. And the higher you get the worse it gets as well.
And dying at level 70 on purpose is a terrible idea. If you're going to die at any level then do it at 64 (if you're welling - 65 if you're not) but that's still dumb in my opinion. Just get to 71 and MQ then climb again. I've consistently found that to be the best way to find good items.
I'll admit that I'm posting this in a lot of places, but if you're ever interested in playing a magician you should check this out:
http://forums.d2jsp.org/index.php?showtopic=30551054&f=74/edit: but make sure to join a guild before you attempt the master quest
This post was edited by NevV on May 24 2009 03:12am