Ummm IDK how you all are failing at math so hard. Especially Tao.
1 channeling = 1% dps boost on offensive spells. For mages w/o Empowered Storm its a bit less, with Empowered Storm 4, it is actually over 1% because of how rain crits work. For DD/Dots it is a straight 1% increase in overall damage.
Wizards are a special case because of our Ultimate/Primal Blasts. If I remember it right, we gain 1.67% overall damage increase per point of channeling, which makes it as good as ~8 evocation, which is pretty fucking huge, especially when you consider evo can be capped, whereas one will never cap their channeling.
It would be ideal if it could be dropped to like .2% per point, and then spread more liberally across gear, but that may not be possible.
This is kind of off topic, but it fits in with the whole casters being "stuck" with certain item choices / gear setups because effects like channeling and focuses are basically more powerful than any amount of hp/ac/etc. When I compare channeling to elemental damage, an item would need 100-130 cold damage to be equivalent to a single point of channeling (for a wizard).
With that said, channeling is actually less of an issue than focuses, I can see myself dropping items with channeling for other effects + superior stats, whereas focus effects are essentially "required" Certain classes can skip some focuses, but the ones you need, you absolutely need.
I still think the aug thing could be viable, if it was made ultra ultra rare. I'm not talking about an easy way to fill in all focus problems, but rather something a raid guild would see drop maybe 1 time per month of consistent raiding. Then its not just a free easy upgrade, you'd really want to think carefully about what core raiders *need* a certain focus that your guild just cant seem to find.