Prior to build 772, this would result in an object that could be respawned when thrown off the world, but would still be a Local pickup.

Now, the behavior is different in that, if someone who is not Master of the world picks up the Object, and lets go - it will lose physics.

If the master then picks the object up and let's go, it will fall to the ground on all clients.

If more details are needed, they can be easily provided.