Tested:
rotten orange - retrievable
ashwood stick - sometimes retrievable
combat knife - non retrievable
m9a1 bayonet - non retrievable
Dropped items are affected by the new "physics" (throwing physics), as noted by the ashwood stick toppling and sinking into the ground usually, and the rotten orange rolling around after it falls.
I have lost many combat knives and m9a1 bayonets to this. At least 4 of each.