Basically what Makkoto said. Think of it like a bunch of int but with no int multlipier and cap. It seems to work oddly though with magic ws and maybe blu spells. Might be a bug though... speaking of which might as well bring it up here. Conceptually it seems the idea of magic dmg was a way to boost magic dmg the same way weapons are getting huge boosts in magic dmg. And it works at least for low tier spells. But on magical ws (and I think magical blu spells too) it's not added directly onto base dmg but is instead after the tp multiplier. This has the effect of making it's effect on magical ws very small and keeps them sucking especially to physical that have all that dmg added on before the tp multliplier. So kinda curious was that an accident or intended?
Also unless a stat says "pet:", "avatar:", or "auto:" before it, it isn't going to effect pets. And the only other things that will effect pets are the specific levling related items. ie base weapon ilvl for bst (though bst has alot of other complicated things that can make it actually lower) and drg, and ilvl of the ammo for smn/pup

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