I finally got over lvl300 and had 4 exotic engrams. Decrypted them and got 3 of the same armor pieces and a the sniper I already had. Every one was under 300 light (and yes after the first 2 chest pieces I left the Cryptarach and came back to break the cycle up). So, I thought maybe it was becuase I got them before I reached 300. Then and bought 2 gauntlet engrams from Xur. Decrypted them and they were both the same Gauntlets and both were under 300. I thought they were supposed to start decrypting to 300+ once you broke the light barrier. Not to mention the whole getting the same item over and over again... Am I missing something here?
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There is a chance, In my experience, that chance increases when all your chars are above 300 and when you decrypt one at a time.