Small nitpick, it should be (4 TotalInt + TotalLuk)^2 *0.12037/BaseInt
--Warning: Boring Calculations. Skip this post if you're not interested --
First. The damage formula for magicians is (with Dam = DamRangeMax) Dam = (4 Int + Luk) * MAtk * 1.00/100.
Writing as a function of MAtk (since MAtk is unknown), you get MAtk = 100 Dam/(4 Int + Luk)
Next, to compare the two equips, we split Int in BaseInt and OtherInt. Then we compare changing BaseInt -> 1.27 BaseInt vs 100 Dam/(4 Int + Luk) -> 100 Dam/(4 Int + Luk) +13, we get the equation:
(4*1.27 BaseInt + 4 OtherInt + Luk) *100 Dam/(4 BaseInt + 4 OtherInt + Luk) = (4 BaseInt + 4 OtherInt + Luk) * (100 Dam/(4 BaseInt + 4 OtherInt + Luk) + 13)
(The BaseInt in the denominator is unchanged because you used your Int from before the modifications to determine your MAtk)
Then I let a computer solve this equation (since it's both faster and makes less errors):
click here for the result
Lastly, I put some numbers from above and below the Dam result, and concluded that if you're above the number, 27% Int is better, and below +13 M.Atk is better.