Raid QuestionsFollow

Sorry if this question has been asked already, but I went down a couple pages and couldn't find a related thread, so:

When you do a raid, how are the drops (if any) from the Raid Mob broken up? Does everyone get a really good quest item for killing the mob, or does everyone have to 'lot/roll' on the items and hope they luck out (which would seem insane with 40 people). Also, how long does it typically take to kill the raid monsters, and what is a typical party mix (mostly melee, mostly mage, all hunter =D, ect.)?


I can't wait for the retail to come out so I can try em out first hand... Thanks alot for the help in advance!