No, I am not crazy. The crazy thing is these three year old sets still being best luck sets!
If your luck is 100% from crafting + 100% from sets it is just doubled chance to find an item.
Maybe it is better not 8 hours but 8 uses.
So you can find max 8 items, most of that items will be useless und will be sold to the travelling merchant.
And the speed bonus should be related to normal players speed.
Only having indians and golden set can have more than 700 speed without any skills on riding.
Having 300% speed like darkguardian said would result in only 30% shorter travelling time.
For a 20 min way it will still be 14 min you have to travel, how can that multiplied by 5 be worth working for 18 hrs of low level jobs?