I'm at level 355 and don't care to do armita runs to level up anymore. I rather treasure hunt to upgrade my gear. It's the same build as other armita farming builds, but instead of having armita earned on all gear, get as much luck, Yokai item drop rate, Yokai equipment drop rate, equipment drop rate, or human drop rate on all gear as possible. An important item for this build is the Fan accessory. I think it can roll up to +100 Luck (using living weapon). I have an image link to the Fan below. This beats Daiba-washi at +60 luck and Itokuri at +75 luck. And at critical, you'll be in infinite living weapon (as long as you're killing things). So basically, you'll be running around in infinite living weapon with 200+ luck (including what's on your gear). I noticed more equipment and divine drops with this build. This is also still a work in progress, so suggestions welcomed!
Gear: Kurasigama blade spin skill for fastest farming, Kodama bowl, Fanatics or Sanada crimson set, Yasakani Magatama, Fan (http://i.imgur.com/IjubxOD.jpg)
Onmyo Magic: Luckbringer Talisman, Shikisen Luck Rite
Kodama Blessing: Swordsman or Warrior
Clan: Furuta for +40 luck