I've found loot to be pretty random in general. I've sailed alone a lot and on one run I'll get 1000, the next, 300 (and I do have max treasure sense).
I'd really like to see that fixed. Personally, I think light ships should give mostly cargo crates, standard ships should give mostly treasure chests, and war ships should give mostly royals. I picture bell curves that also factor in the level of the ship.
Also, it'd be nice to see the number of items dropped be at least somewhat based on the size of the ship (
one cargo crate from a Monarch, anyone? LoL).
I'd also love to be able to ditch lousy cargo (we can't even see what we got until we get in let alone drop it...
lame...).
ETA: Imagine if you ditched a cargo crate and it was left floating there for someone else to claim (What if they had to grapple it? LoL)...