It's roughly 1% for the low level (blackburrow, everfrost) drops and 1.5% for the higher level (paw, permafrost, sebilis, hole) drops.
Guild mate got a COF reward from a higher level drop. Also rumored you can get an ODS for the high level and an equal chance for a title across all ore turn-ins. I am hoarding low level drops on my cleric hoping I can get her a title because I already got one on my main during the Kunark event.
For any dads out there worried about end-game scene being competitive, we are going into Velious with a new agreement between the top two guilds for a two week rotation (to match patch days) on new content. Also, Temerity (top guild from EQMac, only ones to see Quarm) have started to reform - though they will probably stay small for the foreseeable future as old/new members trickle in.
One funny thing I've noticed about EQMac only players that are now on TAKP, they almost universally have no idea when features were added to the game or with what expansions. They started day 1 with POP and never got an update, so thats all they knew. I see people asking every day when AA's were added, or focus effects, or Jaggedpine / Warrens and wondering if they are coming with Velious lol.