It doesn't matter if it's x5 or not, it stays 3%. If you have a spell that does 10k dmg, you'll normally do 40.000 dmg with 4x ele. With 3% elemental precision you'll do 41,200. Increasing the chance that 1 of your spells doubles it's value due to a crit by roughly 6% at the values I used in my example is just far superior, even more if you factor in the overloads.
It's - and don't take this personal - mathematically plain stupid to take elemental precision over acuity as a multiboxer.
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