Hartlepool took the points with a last-minute penalty at the end of an amazing see-saw game.
Both teams had their share of chances, and there were some amazing spectacular goals as play swung from end to end from the first minute to the last.
Luton took the lead with their first serious attack on three minutes.
Pool cleared a free-kick, but only at the expense of a corner and Steve Howard made his former club suffer with a powerful far post header.
Another corner led to the equaliser on 13 minutes when Antony Sweeney stooped to squeeze his header through a crowded area for the first goal of his career.
The game was wide open now, and both teams had plenty of chances, but it was Hartlepool who played the better football - only to be made to suffer again on the half-hour, when Luton regained the lead out of the blue.
Again, Hartlepool appeared to have cleared the danger, but midfield man Michael Leary latched onto the ball 25 yards out and blasted his low shot into the corner from the left of the area.
In the final minute before the break, Ahmet Brkovic should have increased the lead when a bad bounce fooled the home defence and he was in the clear. But with only keeper Jim Provett to beat, he smacked his 15-yard shot against the bar.
Pool levelled on 52 minutes when skipper Richie Humphreys did well to cross from the right and Adam Boyd headed in off the inside of the right-hand post.
Two minutes later they were in front with a spectacular goal that will take some beating anywhere this season. Luton cleared badly and Hugh Robertson came in from the right to smash an amazing 30-yard shot into the roof of the net.
On 59 minutes Pool were stunned again when Brkovic headed in after a corner wasn't cleared properly and the hosts spent the rest of the game camped in the Luton half.
It looked as if they'd lost out when the final minute arrived, but sub Eifion Williams was brought down inches inside the area by Curtis Davis and Boyd kept his head while all others were losing theirs to slot in the spot kick.
There were still some scares to come for Pool as Luton had a late goal disallowed for offside and Provett made a stunning injury-time save to keep the points at home.
"I've never seen a game like that," said a breathless Pool boss Neale Cooper.
"Both teams attacked flat out, and the fans were kept on their toes all night.
"And that goal from Hugh Robertson capped it all - until Adam won it for us in the last minute." Luton boss Mike Newell said: "It's always a sickener when you lose in the last minute.
"But we gave it everything. We have a lot of young players in the side because of injuries to key players, and our inexperience showed at times.
"We can't argue with the penalty, but I felt we did enough for a result.
"But it's not over yet - we still have 21 points to play for."