The delay is minor. 10 delay = 1 second, so the .1 is only 1/10 of a second faster. The 2 damage is pretty big though.
IMO, the venomous axe would be fun to use in the lower levels because the proc is just gonna dumpster low level mobs when it procs. But once you get into the mid levels where your dual wield and double attack is landing more consistent hits, the 2 damage on the WF is gonna add up pretty quick compared the inconsistent nature of the axe proc. I don't have any math to back it up because I'm lazy, but I'd say by mid 30's is when I'd lean more into the raw damage over the proc.
If you have the funds, I'd say buy both and play around with em and see what you like more, then sell the one you don't like. If you're tight on cash, I'd lean more towards the Winter's Fury because the better ratio is only going to do more for you as you gain levels and your combat skills go up, where the axe proc at level 50 is the same as at level 1.
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