Six days after their magnificent Wembley win the Town had to settle for a share of the spoils after being held to a goalless draw which closed the gap on Grimsby and Chester at the bottom-of-the-table.
But they will look back on two points dropped after dominating a game that ended goalless.
Grimsby and Chester both lost at home so the point leaves the Hatters 11 points from safety with five games left.
But the Town had chances to win the game with Mark Bower hitting the crossbar and Keith Keane spurning their best chance just before half-time.
Lincoln rarely tested the Hatters and the only time Dean Brill was called into action was when he had to react smartly to smother a goal-bound deflection by Michael Spillane.
But despite huffing and puffing the Town couldn't find a way past Rob Burch in the home goal and they had to settle for a share for a point.
Hatters manager Mick Harford made three changes to his Johnstone's Paint Trophy winning side for match against a Lincoln City side still with an outside chance of making the League 2 play-offs.
Three players that missed the Wembley win after being cup-tied - Kevin Gallen, Mark Bower and David Livermore - came in to replace Asa Hall, Rossi Jarvis and Michael Spillane all of whom dropped to the bench.
It meant that the Town went with a midfield trio of Livermore, Keith Keane and Kevin Nicholls.
While the Hatters were completely free of injuries and suspensions Lincoln in contrast were missing 13-goal top scorer Adrian Patulea who was out after sustaining a hamstring injury in the Imps' midweek draw at Chesterfield.
It meant home boss Peter Jackson named 35-year-old Geoff Horsfield in attack. A regular scorer against the Town during his Fulham days.
The Hatters were given a warm welcome by the home faithful - down in no major part to the 3-2 victory over their local rivals Scunthorpe last Sunday.
Lincoln kicked off as the rain fell on the Sincil Bank turf, while the Town - backed by a strong following in one corner of the ground - sported their navy blue away strip.
The Imps could have snatched an early lead when captain Scott Kerr fed a lovely pass inside looking for Ben Wright but Dean Brill was quick to save at the feet of the home striker before he could get a shot in.
Chris Martin was playing his last match before he serves a two-match suspension after picking up a booking in the Wembley final.
But that day he'd also scored the Hatters' equalising goal, and the on-loan Norwich City striker was keen to add to his 13 goals this season and signalled his early intent on eight minutes when he received a pass from Livermore down the left-hand channel to drive a shot straight at Rob Burch in the home goal.
On 14 minutes Livermore was in referee Scott Mathieson's bad books when he was cautioned for what was the first foul of the afternoon.
A minute later Bower headed over a Nicholls cross over the crossbar after his initial header from Nicholls' corner had caused confusion in the City penalty area as the Town pushed for an early advantage.
The Hatters were dealt a huge blow on 17 minutes when Lewis Emanuel went down after challenging Dany N'Guessan.
But the former Bradford man stayed down causing concern for the visitors who called for a stretcher.
It was the second time Emanuel had been stretchered off this season. The unfortunatel defender left the field with his left-foot in a brace greeted with a warm round of applause from the whole crowd.
Spillane came on in his place to fill-in at right-back and Ed Asafu-Adjaye switched to left-back.
The injury had stopped the game for several minutes but when the game restarted, Gallen turned Moses Swaibu in the penalty area and crossed looking for Craddock but the cross was cleared by Kerr.
Back came Lincoln, and on 23 minutes N'Guessan shot wide of Brill's right-hand post when well placed.
The Imps came closer on 31 minutes when half of Sincil Bank thought Brill's goal had been breached when Kerr's angled drive from 20 yards hit the side netting after the midfielder had received Horsfield's square pass.
A minute later the same thing happened at the other end when Martin ran and beat his marker to work a yard of space and shoot into Burch's side netting from the left-hand edge of the penalty area.
On 38 minutes flying wing play from N'Guessan almost fashioned an opening for the hosts when his cross from the right was just too high for Aaron Brown to get a head on and Keane was on hand to clear the danger.
Keane was a driving influence for the Hatters in the middle of midfield - carrying on from where he left off at Wembley on Sunday.
And he should have put the Town ahead five minutes before the break when he missed a great chance from an opportunity he started when scuffing his shot straight into the arms of Burch from seven yards following Craddock's cross.
Two minutes into injury time Lincoln almost snatched the lead when Ben Wright's goal-bound header was headed cleared by Livermore on the line.
From the clearance the Town broke on the counter attack and spurned another good opportunity when Spillane got his header all wrong at the back post after being found by a splendid pass from Gallen.
HALF TIME: LINCOLN CITY 0-0 LUTON TOWN
There were no changes for either side at the start of the second half as the Hatters kicked-off the second 45 minutes.
As the Town started looking for the opening goal, referee Mathieson had his cards out again when booking Michael O'Connor for a scything tackle on Martin as the Hatters' striker looked to race clear.
Moments later, from Nicholls' corner, Bower headed against the face of the Lincoln crossbar after Livermore's flick-on and as City failed to clear the danger once more, Bower saw another header drift wide.
On 55 minutes another incricate move from the Hatters down the right involving Spillane and Livermore enabled Craddock to beat two players before shooting tamely at Burch on his weaker left foot.
But seconds later Lincoln almost took the lead when from Burch's resulting pumping clearance downfield, Wright's header found Horsfield who volleyed just wide of Brill's right-hand post.
On 61 minutes Mick Harford made his second substitution of the game when introducing Wembley match-winner Gnakpa for Gallen.
Lincoln were frustrated by the flag of the linesman on 68 minutes when N'Guessan was harshly adjudged to have been in an advanced position.
Harford made his final change of the afternoon when Hall replaced Livermore and a minute later Peter Jackson introduced 17-year-old substitute Andrew Hutchinson for Wright.
The Imps were enjoying their best spell of the game but the nearest they came to threatening Brill's goal was from three headers from their Romanian centre half Janos Kovacs.
Lincoln's O'Connor was lucky to escape the wrath of referee Mathieson for the second time when his challenge on Martin went un-punished when a second yellow would have seen the home midfielder sent-off.
On 81 minutes Gnakpa wasted a great chance for the Hatters when he drilled a shot from 25 yards wide of Burch's left-hand post much to the displeasure of Hall and Martin who standing unmarked in better positions.
Kerr curled a disappointing free-kick over Brill's crossbar with six minutes left after Bower had crudely upended a Lincoln man on the edge of the area.
The Hatters were desperately trying to find a winner and a scrambled effort from Craddock on 85 minutes was comfortably gathered by Burch.
Lincoln were almost gifted a fortunate winner when Spillane inadvertently diverted a shot from Mullarkey goalwards but Brill was thankful the ball dropped right in front of the goalkeeper.
With time running out, the Town almost snatched a winner in the first minute of injury time when Hall played Craddock in one-on-one with Burch but Kovacs made up ground superbly with a last-ditch tackle to deny the striker a shot at goal.
The game was now end-to-end and Lincoln - desperate for three points themselves to secure a play-off place - went in search of a winner in the closing stages and threw up goalkeeper Burch into the Town penalty area to attack two corners.
As that move came to nothing the Hatters then broke up the other end Craddock's pass almost found Martin but the striker couldn't control the ball and that was the last action of a pulsating final few minutes.
FUL TIME: LINCOLN CITY 0-0 LUTON TOWN.
Lincoln City: Burch, Green, Kovacs, Swaibu, Beevers, Kerr, O'Connor, Brown (Mullarkey 78), N'Guessan, Horsfield, Wright (Hutchinson 71).
Substitutes not used: Hone, Clarke, Duffy.
Booked: O'Connor (47)
Luton Town: Brill, Keane, Pilkington, Nicholls, Emanuel (Spillane 21), Livermore (Hall 70), Asafu-Adjaye, Martin, Bower, Craddock, Gallen (Gnakpa 61).
Substitutes not used: Parkin, Jarvis.
Booked: Livermore (14)
Referee: S. Mathieson
Attendance: 4,664 (including 872 from Luton).


















