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One thing I read seemed to suggest that it only affects loot.
This thread seemingly implies it may have something to dow with geting a tame cycle going vs an anger cycle. Is that true?
If so what is the scale on Luck. LRC / Resist are scaled to 100. Some one said they had 1600(?) Luck would that imply a 1000 scale for Luck?
[/ QUOTE ]Luck only affects the loot you find on mobs. It takes a ton of luck to notice much of a difference, and even then, it isn't going to make the difference between you finding great items, and garbage. No matter how much luck you have 99.9% of what you find will be garbage, and the best thing I have ever found, my 3/1 taming ring, I found when I was only wearing 200 points or so in luck.
Specifically, and someone can correct me if I am wrong, luck affects the number of items you will find on a corpse. As far as I know, it doesn't affect the quality of those items much, if at all, other than if you have more items on the corpse, your chances of finding something good are better.
Tamers tend to wear luck suits more than just about any other template, because it is assumed mods and resists aren't as important because the tamer isn't directly in the line of fire as much, and that is true, if you aren't up against high end content, or in pvp. However, if you pvp, or if you are fighting high end content, sacrificing luck to put together a suit that complements your playstyle and template well, is what I would recommend any day of the week...
As for the amount of luck, there is no cap on luck, so you are allowed to stuff as much luck as you can manage onto your suit, and then the 10th anniversary luck statue can add 400 points on top of that. For regular crafted or enhanced armour, for normal jewelry, 100 points, but there are many items that offer various amounts of luck (200 seems to be a popular number), so it is quite possible to get over 1000 points in luck on a suit, without the bonus from the statue.