Luck FAQ
Since luck affects number of items, number of properties, and intensity of each property, it can be said that luck does in fact affect quality of loot.
FoF submitted 16 August to clarify luck % effect on calculation.
Luck calculator
http://uo.gamesentry.com/luck.php
Luck description
http://guide.uo.com/itemproperties_4.html
http://uo.stratics.com/content/basics/luck.shtml
Luck Five On Friday
1- Perfection and luck (no bonus)
2- Luck and doom artifacts
Loot Division
4- Perfection and Luck Part Two (wait, there IS a bonus)
AOS Luck Chart. This has changed some since the release of UOSE and UOML, but gives you a feel for the different categories.
My experiences with luck, and the pioneering work done by JC the Builder, and quite a few others on UOPowergamers shows that luck is indeed a factor. The sweet spot on the luck curve is about 800. At this point, you have a good chance of getting the *bump*, the suit is still affordable, and you can fit in resists.
Revised Luck Tables, Percent to Luck by baldguy. Luck is a whole number, so round UP to get nearest total luck value..
Source UO.Stratics.com
Revised Luck Tables, Luck to Percent by baldguy. Luck is a whole number, so round UP to get nearest total luck value. Corrected Formula typ-o in table (was Luck Value = Luck ^1/1/8, should have been =Luck^1/1.8). Source UO.Stratics.com