Okay so I was lent this blade to do some parsing:
Parses are against froggy, consistent buffage, all things equal etc for each parse. Bare in mind froggy is level 56(iirc) with average resists to everything. The person hitting on froggy was 65, so a lot higher.
CD: 78dps, for 55k worth of damage.
CD: 83dps, for 90k ".
Sp: 94dps, 59k ".
Sp: 91dps, 63k ".
SA: 117dps, 30k ".
AC: 125dps, 64k ".
PK: 131dps, 51k ".
BD: 136dps, 72k ".
SC: 145dps, 72k ".
CD= Charged Driveshaft, the weapon in question.
Sp= Spike, 10/19, piercer, rec lvl 36, from Kedge.
SA= Soulshear Axe, 18/30, 1hs, rec lvl 55, from FRuins.
AC= Ancient Claw of Cillzaia, 13/18+1%crits, rec lvl 50, Cilly.
PK= Prismatic Crystal Katana, 11/16, rec lvl 48, from Mi'Frah.
BD= Blade of Shifting Dimensions, 15+3magic/23, 1hs, rec lvl 65, from OP golem trash.
SC= Shortblade of Chaos, 16/20, 1hs, rec lvl 65, Gishna.
Considering the difficulty of obtaining the Charged Driveshaft, I recon we ought to be looking at parses between SA and BD; all of the items are roughly 1 groupable by the time you can reach the mob dropping the CD, if I understand the difficulty of the encounter (which I haven't done).
Consider, also, that these parses are against a froggy, which is very low level comparative to the person hitting him, and also has 'average' resist to magic. I'd presume the dps would suffer pretty significantly versus mobs of a 'real' level - 60+.
In the interest of this last point, I equipped a level 49 with this item, to hit the level 56 froggy:
Dagger of the Chill: 14+5cold/28
Charged Driveshaft: 1+16magic/23
CD: 5dps, 4k damage done.
DotC: 19dps, 13k damage done.
It's not a good parse to judge anything by really, but, it's kind of interesting to see how the CD dps drops off even further in comparison: consider, if you will, in the debate of elemental weapon damage, the DotC is 19/28 and the CD 17/23 - while the CD seems significantly better, it's clearly the 'real' damage proportion of the DotC doing the majority of the damage, and causing the above result.
As for the rest of the stats on the weapon, they could use a little tweaking also. As far as the proc is concerned, it's nice, though Zaira's 'nightmare' situation of people soloing adepts with this weapon is only a dream... However, a rec level on the item is prob a good idea still.
The most important thing is sorting out the 'usual' dps on the weapon, seeing as it is, in it's current state, very underwhelming.
ps. It looks great!!