Originally Posted by kelben
...but what I was hoping for was someone brave enough to prove that either the haste rating was superior or inferior to that extra dmg / extra crit
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This is so sensitive to context, it's hard to come up with a rule of thumb. It depends on what spells you're casting; thus on your class/spec. It is a function of your DPS, so this scales with your gear (and a = 23 +dam kind of evaluation depends on your gear).
The easiest one to figure out, imo, is a frostbolt spamming mage. to begin...the proc would happen on the 6th spell (6*2.5+.2lag = 16.2 sec); 6 sec of haste; 12 sec of cooldown; repeat;
so that's 6 of 34.2 sec hasted...17.5% uptime * haste%...4.4% for sword, 5.25% for trinket for a frost mage.
using Vontre's spreadsheet (
http://www.radiationnow.net/wow/mage_dps.xls ) with his default stats and his deep frost spec, frostbolt spam does 527 dps. 4.4% of that is 23 dps. the extra 28 +dam, 21 crit rating & 15 int provided by the Nathrezim Mindblade adds 17 dps.
So, for a frost spec'd mage, the sword is 6 dps better...which is about the same as +14dam.
it's a lot trickier for other specs/classes. I think new haste procs don't reduce the GCD, so scorches, fully ramped up AB, instants gain no benefit from it. however, those faster spells done to begin might cause the proc sooner?