I have gotten good stuff on opening it, and good stuff being the last one to pull from the chest and everywhere in between. I usually get decon fodder unless I am on my characer that has the Treasure Chest passive from the Champ System. Then it is still quite often decon fodder, but at least it's Purple.
Enjoy the game, life is what you really want to be worried about.
PakKat "Everything was going well, until I died"
Gary Gravestink "I am glad you died, I needed the help"