At the well you do get different stuff for different sequences, but if you do the same sequence you get same stuff.
To avoid save scumming I think Larian is setting the items at an earlier point. For instance, the items each character get from well is not set when interacting with the well, but it might be set when you first enter the maze.
It might very well be a random item, that is set in the beginning of the game for all we know. So it is worth a few minutes to find which sequence gives best stuff, but it is better that it isn't totally random because you could spend 5 hours trying to get best stuff instead of 45 minutes.
Although with this anti-save scumming feature, I wonder how they implement 'luck charm', is that not even working now. In DOS2 I have never seen the 'lucky find' message even at 'luck charm = 6' which I got all the time in DOS1.
