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You might also realize that this +6% bonus is the only thing you will ever get out of leveling Luck naturally. If at level 60 you don't already have a 100% chance to do most everything you want, you should probably take a hard look at your character build. Secondly, you will have to sacrifice one of your attribute bonuses for 60 levels to do it (50 if you chose Luck as a primary attribute and 30 if you also use the Bittercup, but those aren't great options, either). First of all, you will only ever get a +6% increase to your skill checks if you raise Luck from 40 to the maximum. You should immediately start to pick out a few things. It also doesn't change any of your other base stats.
Luck does not affect speed, jump height, damage, damage reduction, or loot quality. Keep in mind that the corresponding attribute usually only adds up to 20% to your results skills do all the heavy lifting here. Luck affects almost every attribute check in the game, and usually affects your results half as much as the corresponding attribute. You can only ever increase Luck by one point at each level up, and you start with a Luck of 40 (unless it's a primary attribute, in which case it starts at 50). Whichever way you go, however, there's a good chance you don't actually understand how Luck can affect your character. I know that y ou do one of two things with each level up you either try and go for a x5/x5/x1 attribute bonus because you've read that it's important for your character (if you don't know what this is, that's okay - just keep reading), or you completely ignore Luck as an attribute. My goal here is to explain each and every nuance of Luck and to help you realize that this attribute is basically God's gift to Morrowind players. It turns out that this is almost exactly what Luck does in the game, but "everything you do" is a little vague.
It didn't help me, and it won't help you.
Bethesda describes Luck as an attribute that "governs no skills, but affects everything you do in a small way." Screw that.