Diablo – Calculating Dual Wield Character DPS

All spells and abilities use both the attack speed and damage of weapons into consideration. Take for example the Wizard, spells cast faster with a faster weapon and hit harder with a sharper blade.

The monk works under the same principle.

Also, I don't think damage is based on "DPS", but rather on the minimum and maximum damage of the weapon. The "DPS" should give an approximate value of your abilities damage before modifiers.

So in summary, higher min/max damage = more damage per ability usage and faster attack speed = more ability uses per second.

See this summary and the attached blue post: http://www.diablowiki.net/Spells

To answer the question posed in the initial question: Only if you had 0 intelligence and no other damage bonuses!

Base damage is simply weapon damage + any damage bonus from gear (+elemental damage is effectively "+damage" as far as the system is concerned).

The formula is roughly as follows

Base Damage =
        (weapon damage range + bonus damage from gear)
        × bonus from primary attribute^†
        × other class bonuses from skills.

Ability Damage =
        Base Damage (as above)
        × % Weapon Damage listed on the ability.

^†1 primary attribute = +1% bonus damage

Weapon speed doesn't come into play at all when calculating damage from abilities.

What this means is that weapon speed is balanced as a stat; either you deal more damage per hit (by picking a slower weapon), or you use more abilities (since weapon speed affects animation time). DPS is entirely useless as a comparison metric unless you're only auto-attacking.