I shame myself to say no.

Currently, at lvl 66, I'm not totally wasting dots on elites in dungeons. There is waste but it's not on a level I'm uncomfortable with. I keep myself currently at 2 levels of DPS macros though I am considering a 3rd.

1 (lowest) - burst/instant, non-dot based DPS (mind flay, mind blast, shadow bolt, etc)
2 (middle) - considering this for instance trash. WOuld be a compromise between the 2, removing some of the dot stuff and focusing more on quicker damage, but still maintaining some high efficiency, etc.
3 (highest) - Macro's listed above.

For anyone tracking this, I'm doing a rewrite tonight fixing the known issues and doing probably 2-3 instance runs. I'll try to collect data.