But, of course, this has NOTHING to do with the charms coming from Pits Level 2 --- those charms are ordinary ilvl 85-** charms, just like from any other alvl 85 area. Ordinary monsters drop ilvl 85, champions drop ilvl 87, bosses+minions drop ilvl **. AFAIK this is exactly the same as far as charm rerolling is concerned, as no new affixes become available between 85 and **.
I don't know the level requirement for "+38 life", but I'm pretty sure "+22 life" can come from lower levels as well.
There is a lot of superstition concerning charm rerolling, but it's ONLY about item levels, nothing else. It doesn't matter whether the charm came from a goo pile, a golden chest, a boss monster, Mephisto or a Fallen... there is this expectation that something that came from a golden chest or Mephisto must be better than something that came from a goo pile, or that something that came from a "boss-crowded" area like pit level 2 must be better than something that came from a lonely fallen in level 1, but...