Yes and no. It depends on what time period you're talking about, because originally there was no "35%."
It was trying to make sense of all the names, as a new player in 1998, that led me to discovering Stratics in the first place. There were a couple of simple tables that listed all the names and what they did. Originally, "vanquishing" meant +9 damage increase to the weapon's damage. This was a fixed number, not a percentage. "Power" was +7, "force" was +5, "might" was +3, and "ruin" was +1. Originally dex made little difference in swing speed, so the preference was for halberds and heavy crossbows of vanquishing. When swing speed became important, katanas of vanquishing were the new thing to have -- you were always getting the +9 extra damage per hit.
Exceptional player-crafted weapons were essentially equal to might, so ruin weapons weren't worth keeping unless they had great other mods. Silver, of course, but accuracy mods (supremely/exceedingly/etc.) added to tactics and thus added damage rather than today's hit chance. I won't even go into the pre-patch weapons that showed "ruin" but hit like vanqs...
When the BOD system was introduced -- I forget exactly when but it was prior to AoS -- vanquishing weapons were changed to 35% damage increase. Power became 30%, and so forth. But vanquishing weapons became outclassed: weapons crafted with a valorite hammer had 50% damage increase, with 45% for verite, 40% for agapite, and so forth. These mods were preserved with AoS. I still have my pre-AoS agapite war axe that I bought for a then-pricey 150K: with AoS it was given durability 120% and HCI 6%, whereas under the original its durability was something like "fortified," and the HCI was "eminently accurate." The damage increase has always been 40%, before or after AoS.
AoS ruined the old high-end magic weapons further, because exceptionally crafted weapons were given 20% damage increase as a default (meaning on par with old "might" weapons). In the final damage output, there just wasn't much difference between that and a legacy vanq. But I've kept a number of my favorite old weapons if they had some modifier that you can't get under AoS, like curse or paralyze charges.