I wish to use a simple AFK fishing farm (Panda4994's 1.11 Automatic Fish Farm) to collect enchanted books. Luck of the Sea should obviously be used for this purpose. But should Lure? Does Lure still decrease the chances of getting "treasure" catches? And even if so, could I still catch "treasure" faster than without it? I'm not worried about number of uses and durability as I would be using a rod with mending. I just want to know how to get "treasure" catches fastest.
As of 1.9, the Lure enchantment does not modify chances of fishing and only increases fishing speed. You can safely combine Luck of the Sea and Lure to have full benefits of both.