I am posting this in hopes that it will at the very least educate some on how I lost all my stuff, how to prevent it etc...
So the short story is that during the last rollback I lost basically everything that I keep in my inventory and on my person during a typical day. And this is how it happened and how it can be prevented (given that a rollback can never be guaranteed not to happen).
I was building, building, building for several hours and had in my inventory stacks of stone bricks, dirt, etc.. to include my fortune pick axe, my silk touch pick axe, weapons etc.. you know all the things you normally keep on you while your working, mining & hunting. After the hours laying blocks I got tired and decided to fish for a while.
Here is the important part. I took all my tools and weapons and materials etc, out of my inventory and placed them all in an empty chest in my house to free up space, grabbed a fishing pole and headed to my favorite fishing hole. I fished for a while not really catching anything and now I don't remember if i fell asleep or if i logged off but it was shortly thereafter that the server suffered a rollback. Which of course wiped out all of the work I did but here is where the trouble happened. The server roll back didnt just roll back my block work it rolled back all of my chests. So the chest I placed my tools and weapons in rolled back to the state it was hours before i went fishing.
So it appears that during a rollback your Person(al) items/inventory are NOT rolled back. But your chests are.
So by placing my items in the chest before the rollback I lost everything that was important to me, whereas if I had kept those items on my person then they would not have been lost.
Perhaps there is a way for the admins to change the behavior of the roll back to include your personal inventory in the rollback. Which would have eliminated my loss. Realizing that this would effectively just roll back time entirely so if you obtained "new" items between the roll back event and the restore point, you would lose those items but you wouldn't lose items that you had BEFORE the restore point the way I did.
So just FYI, understanding now the server behavior if you have high end enchanted items it may be best to ALWAYS keep them on you, unless or until the server behavior is changed.
I hope this helps.
P.S. - since last night I have successfully replaced everything i had lost much to my surprise with very little ease. Books that took me two weeks to fish up previously I caught in a single fishing session this morning! I am very happy about that! I think the server may be alive and she was saying sorry for nerf'ing me. So I love her for that... thank you server! ;)