Percent "magic" potential stat on weapons?

Ran the calculations several times on my clean unbuffed stats, and nothing even came close to my max range-- you didn't mention mastery skills, haha (+10 for spell mastery, +30 for buff mastery). Then it started making sense.

Answer: It not only works, it's % of total magic attack. Bugger.

Time to run a million calculations to determine whether I should recube it. Oh BOY! Thanks.