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From chests I felt the only thing I was benefiting from was getting better quality gems. Other than that I noticed no difference in drop rate of rare or legendary items.
Just know there are two types of luck and they work differently. You do want luck when skinning/mining/harvesting etc. but luck from chests and drops is a different system.
To sum it up just use what works for you.
I personally believe that too much luck is bad and that when your having trouble getting drops try removing all your gear or even farm naked for awhile. The idea is that it somehow resets your values in the loot table.
I can not confirm anything above with facts but I've never had trouble getting specific items. Weaponsmith pants, glowing sap, corrupted rabbit storage chest in 52 rabbits. I've gotten all of those without having to farm more than a few days and with just luck on bags and medium trophies.