The Math
--Analysis of armor reduction--
Armor Equation @ 70: DR% = armor / ( armor + 10557.5)
10000 armor = 48.644% DR = 51.356% of your damage hits
10000 - 560 = 9440 = 47.206% DR = 52.7941% of your damage hits
means 2.800% more damage
5000 armor = 32.1388% DR = 67.8612% of your damage hits
5000 - 560 = 4440 = 29.605% = 70.395% of your damage hits
means 3.734% more damage
560 armor = 5.0371% DR = 94.9629% of your damage hits
560 - 560 = 0 = 0% DR = 0% of your damage hits
means 5.3% more damage
So we gain up to 5.3% more damage from serrated blades on all attacks. This gives more value to items like WarpSpring Coil and the T6 items with -armor value that will put you closer to zero armor on boss fights. The bottom half of the combat tree adds nothing to white damage besides 2% extra agility, so this is a pure damage increase against combat on white damage.
If you assume that 60% of a a combat rogue's damage is white damage, then hemo has up to a 3.18% total damage increase versus combat based on white damage (math: 0.6*0.053). From the combat gruul attempt I pulled 1080 dps with 59% of it being white damage, or 638 white dps. Serrated blades can give up to a net 33.8 dps increase on this white damage. On bosses with high armor values this dps increase will slightly diminish, as you can see from the above calculations.
The question is then how much damage do you lose on specials?
--Special Attacks--
If you just spammed SS or hemo, you would get these results:
SS every 4 seconds or Hemo every 3.5 seconds:
Non-crit, my hemo averages for 553, SS averages for 660 on the two morogrim samples. Therefore SS is 165 dps and Hemo is 158 dps (6 dps loss). This calculation includes the armor reduction from serrated blades due to taking average damage from the actual fight. The real difference in hemo vs combat specials must therefore be combat potency.
Combat potency generated an extra 1,410 energy over 8:44, or equivalent to an extra 5.38 energy per tick. This changes SS to every 3.15 seconds bumping it up to 209dps. Hemo now loses 51 dps compared to combat.
Now we take into effect the hemo debuff in raids, where it will be fully utilized, therefore adding 300 damage every 3.5 seconds. We will trivialize this computation by ignoring the extra damage from criticals and abilities with damage multipliers like backstab. This brings hemo up another 85 dps, or 34 dps above sinister strike with combat potency.
Lethality will push sinister strike up close to hemo in terms of relative dps, but we have basically proven that hemo beats out combat on both white damage and beats or ties it on specials damage [if you include the additional raid utility]. We have not even gone into additional rupture damage with a 5r/1s cycle or the use of ghostly strike to increase special attack dps.
--In regards to dropping the assassination tree to go deeper in combat--
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Originally Posted by Itzelsnitch
One thing you would have to concider when choosing between 1x/4x and 0/x/x is, that you lose relentles strikes. A 1s/5r cycle uses 6 combo points every 16 seconds, which means that relentles returns 25*6*0.2/16 = 1.875 energy/second.
Assuming 20% avoidance on boss, and 4 points in CP, and a 1.4 speed weapon with SnD and 1 mongoose up, you would gain 12 * 1.3 * 1.02 * 20% * 80% / 1.4 ~= 1.8 energy/sec.
RL is basicly just as good as 4/5 CP, so the choice lies between weapon specs, bladeflurry, and deadlines. CP isn't really an option, seeing how much you lose.
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Relentless strikes and ruthlessness are equivalent to 4/5 CP, so you are basically giving up 5% crit and on all your attacks and 2% extra damage to most bosses to get Adrenaline Rush which is a lackluster raiding talent:
I view AR as just an extra 3.5 Sinister Strikes as that is all that the extra energy provides you. In my case, since I have around 25% crit you can calculate exactly how much extra damage this is:
75% normal hit (660 avg) 25% crit hit (1600 avg) = ( 3 * 660 + 1600 ) / 4 = 895 average hit
895 * 3.5 = 3132.5 extra damage from AR, or approximately 3 seconds of "free" dps. This is rather inconsequential if the fight goes on for much longer than 60 seconds. On short fights you have to take into effect that hemo provides slightly better burst than deep combat due to the nature of the better CP building from 35 energy combo points.
If you have prep and AR you can probably AR three times on a normal boss fight. This is an extra 10k damage but you are giving up 2% damage and 5% crit which on a fight where you are doing 500-600k damage I can hardly justify as a 'win'.
--Weapon Expertise Analysis--
Each point in a weapon skill lowers the chance that an opponent will dodge/miss/parry/block your attacks by 0.04% each. Therefore 10 weapon skill gives us 0.4% less dodge/miss/parry/block. Against monsters that are facing you this means that you will hit 1.2% more and be blocked 0.4% less. Against monsters that have their backs to you this means a 0.8% increase in "hit" with 0.4% of that coming from less dodges which is not mitigatable in any other way.
"The player will gain 0.1% to their critical strike rating per weapon skill against monsters above their level. " This comes from the 2.0.1 patch notes, so 10 weapon skill also gives the player 1% extra crit on boss fights.
In conclusion, 2 points in the talent appears to yield on boss fights 0.8% hit (0.4% of which you can not make up in hit rating) and 1% crit. Two points in weapon expertise has one of the largest 'bang per buck' of any raiding of any talent, rivaling Malice and Precision (which are undisputed as "must have" raiding talents).
--Conclusion--
I hope that the (albeit rough) theorycraft here helps to back up the statistical evidence first put forth in the post. I will try to post more examples of hemo dps and combat dps using the same gear and in the same group, and I ask that other rogues
please do the same. One other item to note is that the effectiveness of a hemo rogue goes down if there are two in the raid, as their debuffs do not stack. The second hemo rogue loses 85 dps, though I still believe that they will be effective dps. In conclusion, you can now only say "lolol hemo rogue" if they are using daggers, otherwise you might find yourself in the uncomfortable position underneath them on the damage meters.
--Questions that I have still--
1) Is ghostly strike efficient dps? It has the nasty side effect of using 40 energy even if it is dodge/miss/parried, so you must include this in your calculations.
2) What is the best energy cycle for this hemo build? Is losing a few seconds of slice and dice uptime acceptable in order to keep 5 point ruputures active the entire fight?
3) When does it make sense to switch over to a hemo build? I'm guessing that obtaining a DST has a large part to do with this, as it boosts your white damage to a higher % of your total dps. Maintaining hit cap is also a large component.