After roughly 7k ped TT wood cut (yes, my life is boring and it's summer) I might as well share my observations.
Every run the PH-3 was fully decayed (29.2 ped TT) and I wrote the return TT in Excel.
At the moment TT used 6826.1, TT return in boards and shavings 6628.2. So return rate on woocutting, atleast for me, is ~97%. Highest single loot 11.04 ped.
-Trees have preset spawn spots, which means they ALWAYS spawn at the same spot, but which type spawns is RANDOM. So you can mark down every spawn point and if no one else cuts it, a tree will spawn there.
-Trees work on a "20 second OR depleted" system. Which means every tree, once you start cutting it, lasts for 20 seconds OR until you reach the predetermined amount of cut attempts. Lvl 1 trees have more predetermined cuts than you can make in 20 seconds, so all lvl 1 trees last 20 seconds.
Lvl 2 and 3 trees usually have less attempts so they despawn faster than 20 seconds. Yes, I used a timer
For example: if a tree has 1 attempt, it will despawn the moment you press the extractor use key.
Trees DO NOT have a preset amount of boards they can give, just a predetermined amount of attempts. I have had lvl 3 trees despawn after 1 extraction, during which it failed to generate resources. Also had times when it worked for 3 attempts but only gave wood shavings. The amount of attempts on each tree is randomized.
-The largest amount of boards you can get per 1 pull is 0.3 PED, everything else is given in shavings. So if you loot 10 ped, you'll get 0.3 ped boards and 9.7 ped shavings.
-Trees don't despawn if you stand near them with an extractor, only when you use it on them.
-If you use an extractor on a tree once and stop, the tree will despawn in 20 seconds. So people who only cut lvl 3 trees, please, for the love of god, use the TT extractor on lvl 1 and lvl 2 trees at least once. Because trees don't shift types. So a lvl 1 stays a lvl 1 till it's cut down.
-Tree spawns aren't rare as some people claim (that they only found 1 or 2 in an hour). Places like Argus, PA and Icarus have so many spawning trees that you might see 5 blinking dots on your screen at once. There are other places, but I won't share them cuz other harvesters will end me for giving away good spots.
-And last point. I don't understand why this tool costs 300 ped. It's probably the only tool ingame that pays for itself in a couple of days. As long as TT return is 97% (MA, I know what you're thinking....don't), and boards have even a bit of MU, this is basically a free skill generator.