Level 94 and its significance

[escape2?]

I'm currently at level 94, elite, and about 70 percent through Forgotten Gods. I've read a number of online comments regarding (1) what level I should be at to start Ultimate and (2) if I don't start ultimate soon, enemies won't be dropping much worth having. I would surely appreciate it if someone could tell me in plain English without any game-centric abbreviations on my 2 concerns listed above. Thanks in advance.

[Teacher Everton]

Well, I'll give you my thoughts, after playing 1.2k hours of Grim Dawn.
1st: If you're overleveled, monsters won't drop those rare materials or monster infrequents. I guess it happens when their level color turns blue. If it is this color, they're not really worth fighting.
2nd: Level 94 is the highest level requirements for gear. You won't find an armor that requires level 95, 96 on. 94 is the ultimate level requirement for gear, which means most of the best legendary items are usable after 94 level on.
That's basically it. Hope it helped. Have fun my friend.

[gNuff!~©~gNom3™]

start Ultimate when you feel like it/your build is ready to handle the various penalties and spikes (ie lowered player resist and increased monster dmg etc)
the reason people tell you to go to Ultimate is, as Everton mentions, purple crafting materials might not drop, but also, Ultimate scales higher than Elite, so monsters will increasingly drop high lvl items (on elite there is a chance you get items below lvl 94 because monsters are not max lvl, on ultimate monsters are always max lvl and will more often drop lvl 94 items)
Ultimate is more loot fest, thus more recommended, but also requires more build attention since it's harder.
"When" you start ultimate is up to you, if you are already 94 there really should not be much holding you back by now - personally i start Ultimate between lvl 76-80 (that's when i'm 100% done on Veteran, i skip Elite)

[Sin]

94 is considered the optimal level to transition to Ultimate because the loot drop level will be similar to the monster level and you'll get more level 94 (potentially useful) items dropping at a faster rate.

But there is absolutely no harm in clearing any other content and transitioning at level 100. The drop rates are arguably even better as you're even less likely to get level 84 (not that useful anymore) items dropping the higher the monster level is.

[OrbPlaytime]

Putting off for much longer you might feel the difference between mob/bosses and their challenge relative to facing capped mobs/bosses you currently are.

In some ways it reminds me of Borderlands 2 in context of its expansions and multiple play through with scaling and importance of items.
Quite a few players had a nightmare time transitioning to ultimate in that game due to their class build relevant gear being too low and not used to fighting scaled mobs/bosses that are no longer capped.

Part of any decision though IMO is how well progressed is your faction reputation and milestone level of certain items they sell.
So L65 could be a nice 1st time to enter Ultimate if one is honored/revered with the factions and items at that level, then L70, then L90; just from memory they seem the key level milestones associated with the various factions.
The context is both augments (higher level-reputation more powerful ones really useful) and also items-gear.
The L65 Ultimate IMO only really works for most of us average players if using Mandate on a future char, pretty hard to hit honored/revered without it at all of them by that level point, and L70 probably makes more sense as it opens up more augments/gear.
Mandates if you check the quartermaster really boost reputation when used on your next char, can only be purchased by a char when revered.

[Childe Roland]

Originally posted by Everton Era:

2nd: Level 94 is the highest level requirements for gear. You won't find an armor that requires level 95, 96 on. 94 is the ultimate level requirement for gear, which means most of the best legendary items are usable after 94 level on.

There are at least two items that are higher than level 94. Yes, one is sort of a joke, but still.

https://www.grimtools.com/db/items/7748

https://www.grimtools.com/db/items/12592

[escape2?]

Yet again, I am pleasantly surprised by the helpful nature of most Steam players. Thanks to all of you for taking the time to respond with such helpful information. Thanks again.