Okay... there are a few questions within the ideas that I am implementing.
Now the ideas maybe fruitless... but some good advice is welcome.
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First off... I am thinking of making a "Magic Luck" finder (possibly nub idea)
Principal of this character... Level up my character/reroll/change class
... Level up to 10 or 15? (want to find +2 Magic Luck Items... wpn/armor/charm)
... Reroll character... put on 3x +2 Luck items (wpn/armor/charm) that can be used by that character class
... Kill things off and only collect... Angelic/Legendary items
... Transmute the poor mod Angelic/Legendary items to get the "Essence" of those items (yes tier 1-3)
... As I level up... I will hopefully find better copper etc items for later use
Now... is that a good idea since I am just starting out? or should I just keep levelling up to 20 and reroll?
A... The magic luck finder idea is very bad
, Just get gear that will make it so you are not a TOTAL leacher in catacombs
So, using magic luck items is not a good idea ^_^, I personally do not sell angelic+ tier 1-3 items because they mostly end up not selling and wasting space.
If you are very very very patient and have like 12 hours a day to spare, then by all means become a muter and mute all the crap you get for essances.
Pretty much, make a gaurdian, grab a crappy heal, and an ee plate, and do catacombs, its cheap and people won't always kick you out as long as you tank / heal a bit 
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Q... much is it worth to sell off "Angelic/Legendary" essences (tier 1 I think)?
The people that used to buy these for 1-3fg dont anymore, because they can mute higher lvl stuff.
They barely sell anymore, i put em for 1fg and they end up just sitting on a mule
A... no, the crazy muters are too good for these_______________________________________________________
Q... Is this the right approach to doing LS:
I have never done an "MQ"... and the Samurai is first to unlock...
Based on the weapon he can use, I was thinking of getting my "Sword" proficiency up high while I am levelling, so that I can change reroll the character and change class and be very proficient with "Sword"... giving me some edge...
Next (if I continue to play LS) after completing MQ with Samurai (note, get proficiencies in Dagger), the next character unlocked is: Paladin, again I can use the "Sword" proficiencies from before.
A... I suggest using the swords because you use swords Feeder~Paladin then NinjaNow... if I do the MQ with my Paladin, can i reroll/change class to Monk and use this character that will have some "Dagger" proficiencies..
For Monk i would buy a new cheap staff set and lvl it up from thereI am sure you know where I am going with this... so do you know if it works... or am I just getting too ahead of myself?
A... nope, its a great approach, just have fun with the game, and after 1-2 weeks, youll get the hang of it 4 sure 
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If you do not know where I am going with this... please leave a comment... thank you all for viewing and your advice...