In the end, it all comes down to your personal gameplay but if you are interested in max DPS my recommendation is using the Magic Weapon (10% more dmg) and using the Force Weapon Skill Rune (which increases the dmg bonus of Magic Weapon to 20% dmg and gives up to a 2% chance to Knockback any enemies hit).
It really depends on what your doing, and having the right weapon for the right job.
Hard hitting, slow weapons are applicable for spells which are not dependent on attack speed. This is a good amount of the Wizard's abilities. Such popular abilities include (but not limited to)
- Arcane Orb
- Hydra
- Blizzard
- Meteor
- Wave of Force
These abilities benefit from harder hitting weapons with the only downside being a slow unfront cast speed. The cast speed just means how fast you can start running (or casting) again after firing the spell. In Inferno difficulties this is actually quite important if you plan on kiting.
Quick weapons are applicable for spells which you cast a lot of in a short amount of time, and benefit from getting quantity over quality. The popular abilities include (but not limited to)
- All signature abilities
- Disintegrate
Signature abilities are great for getting your arcane power back up in order to cast the hard hitters again. As mentioned previously, the faster casting speed is also vital in being able to kite, even with the arcane guzzling abilities.
Basically, pick the right tool for the right job (or what goes with the build you want).
(To directly answer your question, all spells do their damage based on your weapon damage (plus modifiers), not the weapon's listed DPS).
Best Answer
You need to enable elective mode. You enable it through the options menu:
After enabling it, you can put any active skill in any active skill slot, which is the main attack (left mouse button), secondary attach (right mouse button) and the four active skills (1-4 keys).
You can, through key binding, change the default keys for the skills.
Picture source and explanation