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The drop rate has been very poor and streaky for me. Sometimes after going through around 50k wood, I'll get two saws in a row. So a rough estimate is about 25k wood per saw.
Your personal luck decides. It can be very random. I was down there today to try my luck and I got 4 runic saws (2 oak, 1 ash and 1 yew) out of 3 charges wood (1600 on packy and 200 on me per charge).