Is this true?

Is it true that the higher the level you are the better items you find? Because I was in a cow game and people were telling me that if I was around lvl 90 then I would find a lot better stuff. I also ask people how they find "godlys" and they ask me how much MF I have and I tell them that I have 361. Then they tell me that I dont have enough mf. If I make it any higher then all I find from meph is all magic items... no rares and no uniques.

this is what I use on D2 Classic:

Gull = 100% MF
Goldwrap = 30% MF
27% MF Nagelring
36% MF chance guards
tancred armor plus tancred ammy = 78% MF
Helm socketed with 3 p topaz = 72% MF
18% MF boots

total MF amount: 361 MF

P.S. I am using a Sorc