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As I understand it, the generator initially places a chest, which is valued at N of something, let's say, points. Then, guards with an N-equivalent Value are assigned to it, relative to those points. For example, a minimum chest might contain 5k experience, 5k gold, or about 60 trolls, or 1st-level magic items, and it would be guarded by units with a Value equal to the guards on a Stronghold map – about 80 dwarves, or their equivalent.
The same applies further – a chest worth 10k gold would be equal to 10k experience or higher-tier troops.
How the AI with 100% certainty calculates what will be in the chest – I don't know.
And the speed of units is already factored into their Value.