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Depends on your spec.

Affliction/demo -> s1 dreadweave can have 19 more damage if socketed correctly, or 7 more damage and 12 hit in exhange for the crit. These trade the hit for crit, which is over-budgeted on low ilevel items. Hit is far more of a damage upgrade while uncapped. 25-40 gold, depending on your server's large prismatic shard price.

Destruction -> I wouldn't try it in quest greens and AH blues.

Or just use http://www.lootzor.com/ - Insert damage/hit = 1, crit =.5 for affliction/demo builds without ruin and damage/hit/crit=1 for destruction/demo builds with ruin.

So the chest is decent coming straight into level 70, but is quickly replaced by PvP/instances/professions.

Good stuff. I'll probably go Alchemy/Tailoring, or maybe Herbalism/Tailoring, because Kim is an Alchemist and she can be my potion b***h. >_>