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So will you notice the round 15% increase in healing power from 100/100 to 120/120?
Or are we talking about 120 lore? Than the increase is about 8%.
IMO depending on what pets you heal and in which situations, 15% or even 8% healing power increase is not too bad.
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There's more to the story though than those simple equations. In many very high end situations, you won't be able to stay close enough to your pet to vet her. A lot of high end mobs have area of effect damage, so if you are vetting, they will switch targets to you. In those situations 120 magery and 120 meditation will be more useful than 120 vet.
And then there is yet another factor as well. At gm vet, as opposed to 120 vet, you will probably still have some failed healing attempts on your pet, if your pet is heavily damaged, which could spell the difference between a dead and living pet.
What you really need to do is think about how you are going to use your pets, and what the rest of your template is going to be, to see what you have room for. You will have to make some sacrifices, no matter what your decision may be.
I dropped my vet from 110 to 100, so I could add 10 more in med. I think for my template, that was a good decision. I'd love to have 120 vet, but I had to make choices and set priorities, and the vet seemed like the one that I could stand to lose a bit on. I still don't have many problems with failed rezzes, and I haven't lost a pet that I was vetting yet since I made that decision, but I realize that could potentially happen.
Stable slots are an issue, but I've managed to keep control of my urges to horde pets, and so even in losing a slot, I still have a couple free. I could also always drop my beautiful old dragon if I needed to, although that is something I don't want to do...