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Originally Posted by Reformed

I've got over 20k chests run and I'd like to see some hard numbers proving HM is more economical than NM for chest running if your goal is Treasure Hunter with the least expense. Lucky drops are by their very nature inconsistent. You could get the same amazing 1:100,000 shield drop in either mode.
You sir, have got yourself a challenge. I have a second account that is sitting on 1,783 chests and 197,830 Lucky , and I will test both Pongmei HM and Witman's NM and note my earnings. I will do an equal amount of chests in both areas and see what is more profitable. I will conduct the research as follows: since Higherminion claims that he can stay at about break-even by merching everything, I will test this over a significant amount of chests. I will also do Pongmei HM and do my way: keep the shitty golds and sell them, id the normal ones. I'm not doing it on my main account (~13,5 chests and ~2,7mill Lucky) because this would give an unfair advantage and won't be representative for the chestrunner that wants to max his title.
Now, for the counting of my profits, I will note (and screenshot) my cash + treasure hunter progress before I start both of my tests. Also, because I don't want to waste time in kamadan selling my elite tomes, I will use the following calculations when it comes to elite tomes, using the pricing I always use when chest running myself.
Rit = 10k Necro, Ele and Monk = 7k Mesmer = 6k Warr and Ranger = 4k Ssin = 3k.
If you believe that this pricing is unrepresentative, please let me know. I will not sell any of the elite tomes I got, but I will include them in the end-screenshots to make a total earnings calculation. Since selling unids really doesn't take up that much time, I will go around actually selling them in kamadan.
I will run 200 chests in Pongmei and 200 chests in Witman's. If I find myself to be lacking of time this weekend, which I probably will, since my weekend is pretty packed, I will do 100/100, but I don't think 100 is a large enough number to be representative, so it's possible that I'll need more time than just this weekend to do the tests.
If you want HigherMinion, you can do the test as well, so that I can not be accused of foul play.
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