I posted this in a thread in the general forums but I think it will be of more use here:
I'm using this formula for calculating dps
[(base spell damage + (spellpower * .2 * cast time * spell coeff.))*(1 - crit chance) + (base spell damage + (spellpower * .2 * cast time * spell coeff.))*(crit chance * 1.5)] / cast time
using an rough estimate of 800 spell power and 300 crit. assuming a 50% crit modifier (no tempest)
spam casting a 1.5 second spell with 75 base damage assuming 60% spell power coeff. (roughly void bolt) infinitely
will give 232.14 dps
now a gear upgrade choice comes along... do you pick up 10 more spell power or 20 more crit?
800 sp 300 crit = 232.14 dps
800 sp 320 crit = 233.02 dps
810 sp 300 crit = 234.05 dps <---- spellpower wins
i repeated this for a wide range of spellpower and crit values and found that a crit upgrade will almost never be better than a spellpower upgrade. (assuming its a 2:1 trade off)
now with tempest (+30% crit damage) the difference is smaller, but spellpower still comes out ahead
also as your spellpower gets higher and higher, crit becomes more valuable. once you get into the 1300 spellpower range then crit becomes better



used it for an outline of how many times i cast what per 5 min.
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