You're actually spot on and had every right to have high expectations.I'm not saying it's not great. I know it does a lot of damage and I'm sure rogues are happy about it. Maybe we can have less rogues complaining how they don't get kills.
But it's just a damage boost. I was expecting an epic weapon that would blow me away when I see it. As it is, the dragonlord weapons are mere big brothers to their frozen counterparts. The proc is even useless unless you are fighting a boss and their guards.
The way the Admin talked about these dragon items made everyone feel like that, he claimed they were the high end items that were these amazing pieces of equipment, it left most of us in awe to read what he said.
From what I've seen though I can't help but feel he over exaggerated. I mean honestly, I think they would have understood that casters want focus on the equipment not just energy. Huge fail on their part.
I feel everyone's use to it though, it's not the first time they let the community down.