We look at DKP as kind of an automated loot council that our raiders can decide which items they want to be considered for. By that I mean the focus is in spreading the gear fairly based on several factors with the end result of giving it to whoever deserves it the most. If someone has 500 DKP and someone else has 400 DKP, and they're both interested in the same item, the guy with 500 DKP wins. He's got more DKP because he deserves the item more - either his attendance is better overall, or he hasn't been getting loot. This also generally helps the guild more, because you're either gearing up someone who's undergeared or you're giving it to someone who's there all the time.
Incidentally, we also have very, VERY little in the way of loot drama.
I suppose if you look at loot distribution with more of a "getting what you want" ideology then the auction-style systems make more sense. We just prefer to come at it from a progression-focused standpoint.
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Uther would have rolled a Blood Elf.
