Originally Posted by Mijae
Again, the only way it would be possible to evaluate an item over the cap is to use equivalence points. You would first find out how much the next value of each stat is at some baseline (possibly without that item equipped). You would then sum up the products of the stats to get a point value. However, this method does not accurately measure the true value of that item.
Equivalence points are only valid for the next point of a stat (and as pointed out a few pages ago in this thread, can be inaccurate as well). Many items can have up to 75 points or more of a particular stat on one item.
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Obviously it is using an equivalence model that assumes at the ignored level of cap, the next point of hit still has the same consistent value. The only use for that is comparing the relative value of two items assuming you are capable and cognizant enough to adjust your gear appropriately when needed. It is still a very useful mechanic for plotting out gear choices in advance. This is less about modelling 100% accurately and more about real world determination of gear choices.
I'd venture to guess that most people that use Toskk's calculator have found it a useful tool at least once.