I think each time I get a good drop close to my level is when MF finally gives me something (technically junk to me). I think the drops will be low till you get lucky with RNG and MF triggers it.
When that happens, I get blues and greens to my level, otherwise it's rarely anything but. They are low level for the area, but not to my level.
I think if one would want to find stuff to salvage to their level, go to an area with that level in mind. Otherwise you'll be getting alot of high level stuff in Queens which would be a farming heaven.
Think about salavaging Orchi or Gossom stepping out of Divinity...