yep -

I set my main as the group leader, then use MasterLoot. I also have a macro that sets it up so that only mobs with greens/blues "sparkle". That way I only loot the mobs that have greens/blues, and don't spend too much time looting.

Of course I'm boosting right now, so I'm not interested in anything but XP and "free" gear for my alts.

You might also consider "LootFilter" as a way of deleting grey and white loot items. It will take some setup, but you can set it so that it will automatically delete anything below greens, open clams, auto-vendor greys/whites, etc.