For all the farming I've done, I've used the +5% rare loot relic
You should throw that away ASAP, it's pretty much useless. You're far better off with a relic that helps you kill s*** faster than one that only gives a fraction of a percentage boost to blue level loot. .
I wasn't aware it only effected blue, and I used it during farming, not during normal game play. Gimme some credit :P I typically have stockpile or resistance relics on me