There HAS to be a combination of things on loot items for it to be anything above "Junk to giveaway to newbs".
As Kit said, you should have a base # of resists to look for total with regards to enhancing (like a wizards hat with 38 to Kit would be trash, 'cause you can't enhance, but woodland armor may not need 38 'cause if you enhance *cough*successfully*cough* with wood you can get more resists than with leather/metal).
Luck Armor is iffy, I don't keep less than 80, and even if it has 80, it still needs to come with other properties be it decent resists (25-30) or LRC/LMC.
Weapons depends on what type needs what properties, but in general you want atleast 3 good properties on any one item for it to get past the "Junk to giveaway to newbs" status.
Jewels, Kit pretty much hit dead on, but I'll add in you will need good combinations of properties on these too. Also low intensities (less than +5 Stat, +10 Skill, 30% Hit ______, 5% HCI/DCI) aren't worth keeping.
Thanks again Maddux!
Adri: women don't discuss men while in the bathroom, we sacrifice small animals and smoke tampons *rolls eyes*
Adam: aye and in order to expedite the production of solidiers, i kill off the old people
(Carp was right, Adam IS evil!)