I've been drafting more often at FNM, since my store is running Modern every other week, and I just don't have the cards to be able to have a satisfactory experience. Friday, I drafted Dragon's Maze-Gatecrash-Return to Ravnica, quite successfully. First picked Armed/Dangerous, which I think is one of the best cards for limited in the set, and certainly the best that's not rare. Then I got passed another one, sixth pick. With two copies of a card that wins pretty much every game where you get to cast it, I was well set, and I went 3-0, winning 3 packs, one of which was Modern Masters because Dave loves to give out great prizes. I stayed for afterdraft, and got another Armed/Dangerous in my DGM pack, but the rest of my deck wasn't quite as good as my FNM deck. I still went 2-1 and took one game from Mark Fredricksen, always an achievement.
The week before I got to draft Modern Masters, the limited edition set that just came out. This set is nominally supposed to make Modern more accessible by increasing the supply of a lot of the cards that are good in the format; unfortunately, they printed such a small run that it won't have that much effect on prices. They also designed it to be super fun in limited, which makes it doubly sucky that they printed so little, because those of us who aren't on the pro tour will get so few chances to actually play it in limited. I got a couple of high value rares in my pulls and actually had a solid deck, I won my first two matches and then got mana screwed in the third.