Quotes
Hm. I feel like I need to clear up some things.1) Blaze was barely improved in this update, with only 10 more base attack (320->330) and no speed change.
2) The more hits = crittability issue only applies to weapon classes, as has been stated; with mages, critical affects everything equally. Therefore, Illusion does not crit better than Blaze. It's true that there will be more crits with Illusion, if you're just counting them, but when Blaze does crit, it crits hard. Look at the Flame Wheel numbers; they'll be slightly higher than that.
3) There is most likely no 10 base attack boost, according to JoeTang's investigation of the Korean characters used to represent "basic attack" and "magic attack".
Keeping this in mind, here's your comparison.
Critical Magic is 1 + 0.25 * 0.7 = 1.175x multiplier
SE alone is 1 + 0.15 * 0.4 = 1.06x multiplier
CM + SE is 1 + 0.4 * 1.1 = 1.44x multiplier
Base Attack * Amp * Critical / (Cast time * Booster coefficient) = final total power
Paralyze: 210 * 1.4 * 1 / (0.8 * 14/16) = 420.0 BA/sec
Illusion: (130 * 4) * 1.35 * 1.175 / (2.01 * 13/16) = 505.1 BA/sec
Blaze: 330 * 1.35 * 1.175 / (1.32 * 13/16) = 488.1 BA/sec
Blaze + Ewand Fire: 488.1 * 1.25 = 610.0 BA/sec
Paralyze + SE: 210 * 1.4 * 1.06 / (0.8 * 14/16) = 445.2 BA/sec
Illusion + SE: (130 * 4) * 1.35 * 1.44 / (2.01 * 13/16) = 619.0 BA/sec
Blaze + SE: 330 * 1.35 * 1.44 / (1.32 * 13/16) = 598.2 BA/sec
Blaze + SE + Ewand Fire: 598.2 * 1.25 = 747.7 BA/sec


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