I wouldn't take those figures to be reliable projections of dps. However, for relative comparison swings per round and hit rate are irrelevant as they will be a constant factor across all cases.
The real question is how well the equation ways DMG vs damage bonus.
Against dark blue xp mobs in the high 40s on my ranger where I looked into how well the formulas work. Despite my scepticism I found the value of 2xDMG + DB was actually surprisingly accurate for determining the relative value of weapons in the primary hand (I compared a wurmslayer to a lupine dagger).
Unless someone runs parses to determine what factor to use against DMG, we'll just have to take Raev's word for what it is worth on what that might be.
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