This may be a very silly question but does the number of existing items in the game affect the drop rate of the item? Could hoarding have any effect at all on the drop rate, ie. reducing the likelihood that a mob will drop the item hoarded?
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Hoarding and Scarcity
You're thinking of Ultima Online -- It had an economic model which limited the amout of resources available in the game. If you aren't familiar with it, there's an interesting http://www.kanga.nu/archives/MUD-Dev...2/msg00949.phparticle from The New Yorker</a> which discusses some of the UO-isms.
I would be very surprised to see that such a model was in place on EQ. It would mean that heavily farmed items (Flowing Black Silk Sash, Bag of Sewn Evil Eye, even Velium and Spider Silk) would have become almost non-existent. And believe me, if this had happened you would have heard about it from the people farming those items.

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