Interesting you mention ATK winning out. I suspect ATK was buffed sometime between 1.21 and now. When I was playing around with my gears for the final days of 1.0, I encountered some results that could only fit the current stat:damage model if ATK were more potent (or STR/INT were less so, but that seems unlikely). Of course, it could just as easily be a calculation or testing error on my part.
Bold guess is 1ATK:0.5DMG instead of 0.35DMG--still less than point-for-point INT and STR bonuses. I decided not to follow up on it because 1) it's too late to matter and 2) I already sold my +81ATK gloves. ;_;
Please don't "/l OMG YOU GUYS! THE FORUMS SAID...!" I don't want to regret bringing this up.