i think it means the later.

D3 Item affix:

http://www.diablofans.com/topic/41045-spoi...i-item-affixes/

That's mean, regardless if you get lowly iLvl58 in inferno, it will be at good stat. That is because monster level in inferno is between 61-63. Good stat in a sense, better roll. Say damage: Dagger of <affix>

Savage - Tier 6 - 36-40%
Grim - Tier 7 - 41-50%

If you get Dagger of Savage, additional damage is only from 36-40. But because it will now determine by monster level, you will get (as example) Dagger of Grim which will give you 41-50% damage.

Same goes with everything else, armor, dex, vit, etc.

If you want to buy something now... DONT.

So, imagine the new AH...

ps: number of affix (4 or 6) determined by your MF