Originally Posted by Balkoth

Without knowing any details on your gear/spec/etc, I don't know what those numbers reflect, but that could be correct. Think of it this way (these numbers are made up):

Hit affects white, poisons, and yellow: 3 EP
Hit affects white and poisons: 2 EP
Hit affects white: 1.5 EP

In this case, 1 hit rating is worth 3 EP until you get to the point where yellow attacks cannot miss. At that point, 1 hit rating is worth 2 EP until you get to the point where poisons cannot miss. At that point, 1 hit rating is worth 1.5 EP until you get to the point where white attacks cannot miss. At that point, 1 hit rating does nothing.

If you have 5 less hit rating than you need to cap yellow attacks and have an item with 10 hit rating, it would be worth 25 EP in that particular case. If you need 10 hit rating to cap yellows, then 30 EP. If you have capped yellows but need at least 10 to cap poisons, then 20 EP. The EP value of hit depends entirely on relation to these caps and thus can shift far more dramatically than, say, AP or haste.