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Melee weapons in Dragon Age Origins are largely based off the strength stat and are therefore largely targeted towards Warriors and certain Rogue builds. The exception is daggers, which are half dexterity, half strength. The first and most straight-forward stat is damage. This is simply the unmodified amount of damage the weapon will do on a successful hit. The higher, the better. Different kinds of weapons have different base damage values, but the value is variable based on the type of material the weapon is made out of. In rank of quality from worst the best the materials are Iron, Grey Iron, Steel,
Veridium, Red Steel,
Silverite, and
Dragonbone.
The attribute modifier determines how much of the governing stat is factored into damage. It can range from 85% for a dagger to 125% for a maul. In effect it means that all things being equal, a maul with a 125% modifier will do more damage than a sword with a 100% modifier, even if the weapons have the same stats otherwise. The gap between the maul and sword would increase as the wielder's strength increased.
Armor penetration governs how well a weapon works against armor. It seems to work as simple addition and subtraction. The armor penetration, the more points of armor which are ignored. A weapon with ten armor penetration rating of ten would ignore the effect of armor against an enemy with an armor rating of ten.
The speed modifier determines how quickly a weapon is swung relative to the base speed of the character's attack animation. Lower is better.
Finally, critical chance is a stat added on top of the character's melee critical chance. Higher is better.