damage increase from items is capped at 100. uoguide. or overcap your damage and see theres no increase over 100 in character stats. first it checks your damage increase from items, then it modifies with skill, then enemy of one / slayer / perfection is applied. divine fury bonus counts towards item cap (so if you keep divine fury up max on items only needs to be 80, kinda a pain tho so most dont do it)
Many reasons to open up damage slot. I like to run life leech as weapon mod and drop necro sometimes. In this case you could take off weapon to add hld, hla, hitspell, or leave on weapon and add more things like skill points to jewels.
The suit isnt for me, i enjoy making my own, but the value of skillpoints is undervalued by alot of people. even fitting in gm parry to get the 10 percent bonus is signifcant. you get what like 20blck at 60 parry, 34ish at 100parry, decent difference. or really open it up and go macing with no need for ssi. with those skill increase could probably fit in peace or something.