Don’t waste your time on this. I have a base MF of 167%. After gaining various boosts to MF as a % increase it only gives the point increase. I did fiddle around with various boost items to see what would happen. Most of the time it would give the point increase not the percent increase. However, there are a few items and times when the increase was not based upon points or percent. I have no idea how this happens. There must be a serious glitch in their math work. I also found that switching between boosts of the same percent increase would not always give the same percentage or point increase.
Therefore, it is concluded that any base MF over 100 is a waste of time. I would say that ANET may be purposefully defrauding its customers who are salvaging items to gain luck when they can be sold for gold/turned into gems, which ANET really wants cash for. Bottom line. MF is broke/doesn’t work/fraud.