Is Chess a game of skill or game of chance? How much?

Neither... Chess is not a game of skill. Nor is it a game of chance. Chess is a game of memorization-- Memorize all the opening books, all solved end-games, and every famous historical game ever played, and you too can be a great chess player!

David Sirlin has a chess variant called "Chess 2: The Sequel" that uses a three-pronged solution to chess's problem of over-reliance on memorization:

(1) Pick 1-of-6 opening armies: This deals with the problem of memorized opening books.

(2) Mid-line invasion: You win if your King crosses the mid-line of the board. This new victory condition deals with the problem of memorized end-games.

(3) Dueling: Instead of simply capturing a piece, players use a double-blind bidding mechanic with a scarce resource called "stones" to decide the victor. This makes a good memory even less advantageous.

Sirlin's website is here: http://www.sirlingames.com/products/chess-2-print-and-play