We use a very fair loot system called EPGP which stands for effort points/gear points. It is very easy to use and understand. I dont think i can explain the system nearly as well or in depth as the wiki document already has.

You can find all the information on it here : EPGP

 Required mods for Raiding

EPGP Lootmaster off Curse.com
EPGP DKP reloaded