I've been using a dragon pick for a while. I only heard the dragon pick was the best to use in LRC, but it seemed that people just went with what everyone else used. I decided to finally compare it to a rune pick and see if it's truly worth the extra 12M.
Mining level for both: 94
Where mining: living rock caverns (LRC)
Time: 61 minutes
Outfit worn: agile top and legs, Ardy 4 cape, ROW, glory, Fally shield 4 and boots of lightness
Lava titan used for both
I went for the gold deposits in the central and southern areas. When they were depleted, I went for the southern coal deposits.
Dragon pick 58,490 exp in 61 minutes
Rune pick: 55,195 exp in 61 minutes
Experience difference: 3,295
Costs: dragon 12.4M / rune 18.9k
Both tests were some of the best mining days I've had. At least one of the gold deposits was mineable for most of the hour.
For me, the dragon pick is just a show piece when using the LRC. The rune pick does just as well and costs a fraction. The only time I've seen a dragon pick be worth the high price is mining for runite.