Which is better?

[Logic_X]

Ethereal = [(Base+magic bonus)*1.5]*(%ed modifiers +1) + (+dmg modifiers)

Magic Bonus = 0 if weapon is not magical.
Magic Bonus = 1 if weapon is magical/unique/etc.

1.5 is from the 50% effecting base weapon damage from ethereal.

%ed modifiers encompases all listed enhance damage modifiers on weapon (IE Cruel, Ohm, etc.)

+dmg modifiers is all +min, +max, and "Adds x-y damage" modifiers.

Compare it to an ohm'd formula:

Ohm'd: [(Base + magic bonus)*1]*(%ed modifiers +1 + .5) + (+dmg modifiers)

If you want a run down:
99-199 base damage weapon (easy #s to work with even though there is no existing item with this base damage)
Magical (cruel - 300%, evisceration +50 max) (Just putting +50 max as an example...couldn't remember if it was butchery or evisc)

Ethereal = [(99+1)*(1.5)]*(3.0+1)+(0) = 600
Ethereal = [(199+1)*(1.5)]*(3.0+1)+(50) = 1250


Ohm = [(99+1)*(1)]*(3.0+1+.5)+(0) = 450
Ohm = [(199+1)*(1)]*(3.0+1+.5)+(50) = 950

If you want to calculate the entire thing out (including final damage) here's first an explanation of parts of the formula followed by the actual formula (these don't include where the program cuts off the decimals - ie truncheation or however you spell it - basically always rounding down.....this formula will give you a general idea of your damage without a lot of decimal work, just round down any time a multiplication/division results in them):

Weapon Damage:
The damage displayed on the actual weapon - reachable through the following formula:
Weapon Minimum Damage = ([Base Minimum Damage + Magic bonus]*ethereal modifier) * (1+ %enhanced damage) + (+Minimum damage)
Weapon Maximum Damage = ([Base Maximum Damage + Magic Bonus]*ethereal modifier)*(1+ %enhanced damage) + (+Maximum damage)

Terms -
Base Minimum/Maximum Damage: The Damage of the weapon type (IE Thunder Maul, Phase blade, etc.).
Magic Bonus: The bonus from item being magical or not (+1 if magical, +0 if non-magical)
Ethereal Modifier: Modifier from item being ethereal or not (1.5 if ethereal, 1.0 if not ethereal)
%enhanced damage: decimal of the % enhanced damage (IE 300% = 3.0, 250% = 2.5)
+Minimum/Maximum damage: self explanetory (integer improvements to damage)

To determine final damage:
Final damage = [(Weapon Min|Max damage) + (+ Min|Max from non-weapon sources)] * (Stat modifier + %ed from non-weapons + 1) * Special modifier

Weapon Min|Max damage is what you determined above this.
+Min|Max from non-weapon sources: The +Min|Max from charms, boots, armor, gloves, etc.
Stat modifier: Determined by your weapon choice (I don't remember them atm, so I won't list them in case of error....they're pretty straight forward with non-class specific items though....)
%ed from non-weapons: %ed from skills, armor, gloves, boots, etc. (everything except weapons) in decimal form (IE 300% = 3.0, 250% = 2.5).
Special modifier:
Critical Strike/deadly strike = 2
normal hit = 1
Multishot = .75

Multishot is also multiplied against your elemental damage where as the other 2 are not. (+elemental damage is added on after everything else).

I hope this helps in some way.

(someone will probably come along and list the weapon modifiiers....I don't feel like looking up the weird ones atm.......basically melee modifiers = strength/100, bow modifiers = dexterity/100 - with the exceptions being mauls, class specific weapons, and throwing weapons.)

Also remember:
Axes have hidden 150% ed to demons modifier.
Similar to Maces visible 150% ed to undead modifier.
Someone else can explain how these are worked in if they want though.

Peace,
Logic_X