Since it's taking me forever to level my pet, I thought I'd use him on a raid boss fight, but a number of party members complained claiming that he would reduce the number of drops (which was bunk anyway because most of us were well over 3 levels higher than the raid boss level). Is there any confirmed information that this is true?
Raid boss drops are determined by the person who deals most damage to the boss. If your pet does the most damage from anyone else, and the pet is 4 levels higher than the raid boss, then yes it reduces the number of drops. Otherwise no. The same applies to everyone else. If the damage dealer is 3 levels or less than the raid boss, the tank can be 8 levels above and you still get good drops (I tested this on a solo raid boss by myself with just pets and dd and tank (2 accounts).)
On a side note, people still dont know that pets only leech exp from master only. Not the party. I have to prove this to people sometimes cause they're so freekin slow in the brain.