You can have trinity do this already, If you are worried about picking up too much inventory or you want arcane dust but dont want to pick up blue armor/weapons while doing rares also. You can switch it in the trinity pickup tab to pickup magic jewelry/follower tokens which only take 1 inventory slot each, granted you get blue salvage mats slower but nonetheless you get them all together while vendoring or salvaging rares whatever you prefer. Don't need any loot rules to setup, unless your freshly hit 70 maybe you should try loot rules out to find some decent rares to use until you get better gear thats about it. After that you trash all rares.