While I'm too lazy to link you the other thread containing relevant data reports from various people I will give a brief summary of the findings.
It works as weapon skill vs mob defense ie. for 60 vs 60 its 300 vs 300.
The optimal / best amount of +weaponskill to get is 10 assuming you're fighting a level 63 mob anything lower makes the +skill less valuable. Muggers / ACL is currently the best combination, assuming you dont have a shot at death sting in the foreseable future, if you are then you'd probably also be able to drop muggers for belt of never ending agony.
It is a 3% damage increase on the glancing blows per skill point. Meaning a 30% total.
+22 weaponskill would be complete overkill you'd never fight anything with high enough +def to make it worth the sheer scale of gimpage you take for it. Gaining +10 weapon skill gives you +.5% hit and +.5% crit, which isnt a viable way of gaining hit/crit but its an addition none the less.
Assuming a 17/24/10 build. You'd still have a large gain using a seal fate build on white dps but since seal fate isnt as white damage oriented the gain would be substantially smaller.
Edit.
http://forums.worldofwarcraft.com/th...readID=1051138
This is the direct link to the official forums. Ra - You can do the maths yourself but yes they're better.