Concerns About Loot Quality

Okay so i sold basically every legendary and fabled i had to the blacksmith, including the ones i had on the market to afford a bunch of Loot Quality equipment, and already im worried i made a huge mistake.

So my first concern is that Loot Quality doesn't do much, i know it was nerfed, but is it still helpful? And how much of it do you need for it to help? Because all together my LQ equipment adds up to about 45% LQ, and im worried that wont really do much.

~ T