The water pet properly positioned does more dps than the epic pet. Give or take 20% more. It's an easy focus item to get.
In groups mage pets do amazing dps; not far off most rogues/monks without counting your burst or utility. Damage shields are icing on the cake and while dont end up getting you Parse points they do directly equate to what you bring to the table.
It's really not until raid encounters mages fizzle out. At that point it's coth, rod, clicky stave, and DS duty. All great tricks to have.
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