As a guideline they are useful, but I wouldn't put too much trust in such formulas, especially when they produce similar figures for different weapons.
The formulas don't consider the relative value of damage bonus to weapon ratio, which varies depending on the combatants atk vs avoidance/ac scores.
When you have two options and the 'dps' figures are close, it is probably better to make a choice based on other factors, such as attainability, push, riposte damage (both for and against), etc.
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