DPS on Mage weapons?

[Vmage]

What about general spell damage ie Fire 3?

the spell damage you deal is a function of your INT from items and the Magic Damage of the weapon you're holding, with the Magic Damage on your weapon playing a bigger role

the old formula was something like ((potency of spell)+INT)*(Magic Damage on weapon)

it heavily favored weapon damage over raw stats, although I'd assume the damage algorithms are a bit different (and probably more complicated now?) it seems that weapon upgrades are still the most significant