You should check out the video in this thread. He gives a pretty good description of what is going on with Grief, and how the damage is so much higher than what can be seen. It really has to do with the +400 (+/-) damage bonus and how that gets multiplied by other items and skills. I have both ebotdz and a grief on my old account and grief always is way more powerful in both PvM and PvP (ww). I use ebotdz for PvM a lot, mainly because it is still great and has all the leech I need (flexible).
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