So create 4 sorcs, then use mm7CHE.

Sorc 1: level 10, with GM 10 water
Sorc 2: level 10, with GM 30 water
Sorc 3: level 50, with GM 10 water
Sorc 4: level 50, with GM 30 water

Luck was at 26. All of em got a bunch of GM Meditation, minimize restoring magic points.

Gave them 10 exquisite daggers and enchanted rings. Cast EI on each.

Weapons:

Sorc 1 got 2 Assassin's, 5 elemental I blades (lowest level elemental damage), 2 slayers, and 1 Swift.
Sorc 2, 5 elemental I, 1 assassin, 1 antique, and 3 slay.
Sorc 3, 4 elemental I, 1 assassin, 4 slay, 1 swift.
Sorc 4, 4 swift, 1 assassin, 3 slay, 2 elemental I

So, sorc 4 might be showing a shift, but 1-3...no. Almost the same.

The rings don't show any notable difference either. Sample size is too small to say if the result type is different, but the ratings were all in the same rough ballpark. Skill boosts were 12-14 with occasional drifts either way. Attribute boosts were probably 13-15.

Next, I did a bit with Luck. The level 10 casters got luck 126; the level 50, luck 300. Enchanted 3 rings and 3 blades each. I'd say, if anything, the results were worse. ) The rings had, IIRC, more cases of "gain N hit points" and IMO that's a pretty weak ring.

This was all done on Emerald Island; faster to set up. I may repeat the experiment with a crew that's finished, and put them somewhere like Celeste. And another test is to do it on the solstice and see if that helps.

Water skill level and luck have no effect on this AFAIK.

2 years ago I was working on rebalance mods for MM6 and MM7 (using a utility called MM7View that opens and views contents of the data files).

There are spreadsheets (tables) for enchantments, and enchantments in MM7 are split into 4 grades: A, B, C, and D (A being lowest and D being highest).

If I remember properly, master-level enchant item can only produce level A enchants (the weak crap). Grandmaster level can produce anything up to and including grade C (the tier with the 2nd-level elemental damage enchants such as lightning, flames, frost, and venom). Grade D enchantments can only be found as high-level loot or bought in top-tier stores.

nice, a link to such spreadsheets would be awesome if one could be found.

Same with ore, can only get up to certain things with different grades of ore trading it in (one of the best ways for top gear).

I think of course the top stalt ore can get up to +25 bonus's in terms of stats or skills (like max +25 alchemy on an item), or to a lesser degree skills like unarmed, armsmaster, etc are 1/2 that level so maybe +12 max. One category down eurdine ore can get +17 max stats/skills, and so on.

I also use erudine ore mostly for getting the good +10 all stats, or +10 all resists on items except for armor and weapons which I don't think you can get with eurdine ore, just on items (rings, amulets, etc). I think I only got the best enchantments on armor, weapons with the top stalt ore. (swords with +10 all stats, helms with +10 all, etc).

Good to know about the enchant item. I never never have used that skill at all (unless I find a scroll) I get all my top gear with ore which is plentiful, or just saving/reloading at the few stores that actually can produce randomly that top gear (same with black potions).