5% was admittedly an exaggeration, just felt that low. I'd say it was probably closer to the 30-40% range. It was Artifacts of the Blacksilt, spent a good 10-15 minutes killing Blacksilt Seers to get two damn idols to drop. A quest that had me killing Elder Brown Bears for bear flanks also took quite a while, though that was less due to drop rate and more due to how spread out they were.
Also get the Heirloom Mount. Being able to have basic riding speed from the beginning will save you a lot of time if you're starting from level 1. Allied races start at 20, so this is a non-issue for them. It's important to note that Pandaren can not use this mount until they finish their starting zone and pick a faction. Being Horde or Alliance is a requirement of the mount.