That is no longer the case as of Publish 46:
The Mana Regeneration item property is now subject to the principle of diminishing returns.
* The hard cap on MR has been removed.
* As the total MR from items increases, each successive point of MR will give less overall mana regeneration.
o This means that adding more MR will always give more mana regeneration.
o This also means that as you put more MR items on, you get less of a bonus from each additional MR item.
* Having higher Meditation and / or Focus skill will give a bonus to mana regeneration gained from MR items.
* Meditation and /or Focus will now benefit for intermediate values and not just for multiples of 10 (i.e. 80.1 used to give you same MR bonus at 89.9).
PS Yes, 2% would mean MR2, this is just a typo.