Unlike some people, I did not get a Peddlefeet pet this year, though I ground for hours and hours every day on three characters. (Okay, I slacked on Valentines Day, but come on. Husband brought home a pile of ribs slathered in barbecue sauce and suffered through a John Cusack marathon, all for little ol' me. Even kitty behaved himself!)
If I had less patience, this pet farming failure would be a huge letdown. As it is, Peddlefeet is hideous and I can try again next year. I just want him for the pet collector achievements, anyway.
I read a comment on Wowhead about how people assume that if you just keep farming, you'll definitely get it because your percentages go up the more you farm. A commenter said this philosophy is essentially flawed, that the percentages stay exactly the same at all times and farming does not increase them, nor does luck factor into the equation. Rather, the more you farm an item, the more chances you have that the small percentage will pay off in your favor.
A very matter-of-fact way to look at it.