Yes elemental damage is being multiplied into average damage first. So isn't it better to get a weapon with higher average damage?

The above example of Axe Vs Wand. AS no doubt make the beam ticks more in archon mode but here I think we should prioritize average damage because the DPS of a weapon is inflated with the base AS on the weapon. Good example is rare xbow vs manticore. Manticore's DPS is AS influenced so it will never hit as hard as a rare xbow with the same DPS.

My understanding is based on my DH experience so i'm assuming is probably the same with wiz. Harap harap not wrong la.

Yes formula don't lie and yes i agree that the AS influences the DPS output. But i'm trying to explain that paper DPS is not what you should look for in archon mode because archon's are dependent on weapon damage. A good example was my friend and my DH last time, same DPS but his Ball Lightning hits 100k harder than mine. My DPS was paper DPS as I stack tons of AS on my DH.