Armor and accessories can roll bonuses to Luck as a modifier. Having higher luck affects the chances of rolling more modifiers on new items, and increases the strength of the modifiers rolled. Each point of luck represents a max of 1% added strength, but will usually have an effect closer to .4%. With a lot of luck and an incredibly good roll, it's possible to break the upper limit on modifier strength by up to 20%.
In my opinion, luk should affect the following:
Small increase to roll multiple lines, maybe 0.1% increase per 1 LUK
Increase in rolling better magnitudes (thus power), maybe 1% per 1 LUK
Having high LUK (should really become noticeable in the hundreds of LUK) will increase the amount of very strong modifiers rolled drastically
Armor and accessories can roll bonuses to Luck as a modifier. Having higher luck affects the chances of rolling more modifiers on new items, and increases the strength of the modifiers rolled. Each point of luck represents a max of 1% added strength, but will usually have an effect closer to .4%. With a lot of luck and an incredibly good roll, it's possible to break the upper limit on modifier strength by up to 20%.
In my opinion, luk should affect the following: