Doesn’t comport with my experience! I’ve def noticed more drops and more gems. Think I might be getting more macca too, though don’t quote me on that – I have to check. It’s not like, a HUGE boost to your crit rate on its own, but Might seems to kick in way more often for me. Also, helps you avoid more Hama/mudo spells, and assuming it works like it does in 4, probably makes your own stick more often. (I have 200+ luck in that game and instadeath only seems to fail against demons who resist it. Also I’m LOADED down with healing items and spell stones)
Idk if it affects negotiations. I think you’re supposed to have negotiation skills on your other demons to back you up in this one, because demons seem to cut and run a lot more (get a demon with Detain and Gonnection, they’re helpful). It… miiight affect the gifts demons give you? I got a Vi Incense off of my Makami the other day. THATS never happened before.
And I almost never get back attacked now, though I seem to get surprised (when they go first but without your defense being penalized) about as often.
Granted, it is a stat called “LUCK” so it’s possible some of this is a placebo effect. Or maybe you’re just not very lucky