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If it doesn't diminsh I think chain lightning will almost always be better than arc lightning.
Probably. But it will diminish. Electrocute hitting six times for 80% weapon damage is a spammable, zero-cost ability that hits for 480% weapon damage. That sounds a little too good to me.
But hey, I haven't looked closely at the other classes. Last I saw, the tooltip read jumps reduced damage. Could have been changed. Maybe it was removed altogether.
I think it only does 80% per target it hits; I doubt it would do 480% to one target if thats all it hit; because that would make it the best single target dps the wiz has - and have a free cast.
Never indicated that it would hit the same target six times for 480% only that I think it would do 480% if 6 targets are in range... other aoes such as 20 yard arcane orb have the potential to easily do 2000 or 3000% damage or more, as far as aoes go, it isn't strong, but it is free and fast and has a lot of passives that could make it better... If it does diminish on chains I don't think it compares very well to bola shot for example..