...and with 4 million crowns, you could've just asked Rommil to roll it for you, he's got the luck of the irish...

Over one million people died in the Potato Famine because a disease decimated the one crop that Ireland subsisted on. I'm not totally sure that expression is valid.

Don't feel bad, yesterday I rolled FIVE (5) Normal Medium Wolver Caps. If you bought a Normal Medium Wolver Cap off the AH in the last day, you almost certainly bought it from me.

Go check the auction house. There's more than one of them up with the same buyout.

According to the wiki the chance of a very high is closest to 5.56%, and a high is closest to 7.41%. Thus, the chance of a high or better is 12.97%.

Given that each variant's possible chance is the same (EG, damage vs beast is just as rare as asi), thats a 1/8th chance to receive the "correct" UV. But since I don't know which UVs you'd have accepted, I'll use a table type thing. And just for the record, you rolled 266 times if you used exactly 4 million crowns. For my own convience, I'm only calculating you accepting 4 UVs.

Lets do high or very high as acceptable first.
# of UV's accepted / Prob per roll of a good UV / Prob of your failure with 2 successes or less
1 / 1.62% / 19.3%
2 / 3.24% / .77%
3 / 4.86% / .018%
4 / 6.48% / .0000034%

If you were only accepting very high UVs-
# of different UV's accepted / Prob per roll of a good UV / Prob of your failure
1 / .695% / 15%
2 / 1.39% / 2.4%
3 / 2.09% / .3%
4 / 2.78% / .05%

So what this means, is that the only realistic way you could have wasted that many crowns on punch is by either not accepting a good enough UV when it came around the first time, or by rolling on an item that has only one acceptable UV, EG haze bombs for very high, which would of course have a 15% chance of failure given 266 rolls. The other explanation for this is that you're just incredibly unlucky, but as I don't know exactly what items you rolled or rerolled or were aiming for, there is no way to be 100% certain.

Of course, my calculations have covered only the weapons you rolled for, the others are slightly different, and slightly larger in chance that you would have failed. But many armor pieces aren't as stickly about UVs either- a divine mantle with maximum piercing defense is just as valuable as one with max shadow defense, while some weapons like shiver are only good with 1 specific UV on them- CTR.

Better luck next time.