Does Whimsyshire drop better loot than other areas?

I like to put on Magic-Find gear and go farm for good items, however I've been feeling a bit disheartened lately because of the hours spent re-running acts with over 200% magic find, and only finding yellows that are not even worth putting on the AH.

I haven't tried Whimsyshire yet though, and have been thinking about farming the items to go there.

Does Whimsyshire provide better loot quality than re-running through the acts? Or better opportunies for loot, such as more champion groups in a smaller area?

From the developer AMAA on reddit:

d3db: With the drop rates released in the 1.0.3 preview, is Whimsyshire considered part of Act I or Act III/IV?

Andrew Chambers: We dont really consider the Whimsy-ical Shire to be part of the story proper, but the new drop rates will affect it. Specifically, the monsters in hell are considered act IV hell monsters, and the monsters in Inferno are Act III/IV Inferno monsters.

From my experience doing nightmare and hell Whimsyshire a few times now, I find that the drop quality is always the equivilant of the next Act up. So Normal Whimsyshire is the equivilant of Act I nightmare drops. I have found higher level gems than I can find in all of the difficulty in that difficulties Whimsyshire.

Thus, Inferno Whimsyshire drops should equal Act I of what we will call Super Inferno.

Not to mention I have found very few Legendary items (4 to be exact) and 3 of them were found in Whimsyshire. They weren't the best, but they each netted be a decent amount on the AH.

Also, those cute little clouds are everywhere, and with decent magic find yield a lot of oppourtunities to find something awesome.

Okay clear some stuff up I have seen 5 different boss types(purple named)There is one for each type of creature and then there is Team Unicorn which is 4 mini named ponies that will wreck your world if you are not geared right and each one drops loot blue-legendary.

next hit the Desicrated Crypts area and get your valor buff up takes a few mins if geared correctly and you have a chance at level 31-47 rares legendaries.

Depending on set up and desire I make a lot more in whimsy then farming act 4 hell for sure however in hell mode you can get some real nasty named combos invunrable mortar illusionist is just so wrong when it happens.

As for drops I get anywhere from lvl 51-59 items and avg 8 rares per run and about 50 blues.

Gold is about 120k a hour.

If you go to Whimsyshire expect items that are available in act 4 final quest for that difficulty. If you do inferno I would suggest being a friend or 3 and sticking together.

As for the magic find it helps but not enough. Unless you hit like 300 or more don't expect great things.