I could be wrong, but I think once you enter the zone where the chest is the treasure "fixes" - so utilizing the teleport won't work.
For davey jones locker I always save in the tunnels b4 the next zone, then move into that zone, jump down, and hug the right wall. I run as fast as I can when you know who engages for combat - running into the alcove and moving as far back in the alcove so that you can "escape" combat unscathed. Then I save again (w/out erase-ing the save b4 the zone) and then open the locker. If I like what I see, then I go make a can of starkist out of you know who.
IMO excalibur isn't worth it, but the ring of regeneration is.
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