Snickerbobble
The Painter
Raw damage and crits also boost DPS.First of all my favorite accessory mod is violent. Second, melee speed increases DPS greatly. Third, movement speed can make dodging much easier.
However, like i said before, nobody ever gets my points, so agree to disagree. I personally prefer cobalt.
The DPS of a cobalt sword with cobalt armor is about 70. For Palladium armor with cobalt sword, the DPS is 73. This is against a possessed armor with -14 damage defense. The problem with going for melee speed over damage is that you have attacks more effected by defense. Palladium's extra damage does 24 damage each hit with cobalt dealing about 20. Three less damage a second isn't that big of a difference (for the DPS).. but palladium also takes about 3 less damage as well as heals back 15 every 5 seconds.
The only real reason to prefer cobalt over palladium is for looks, as cobalt only has a higher DPS if you're fighting something like green slimes.. but both kill them in the same amount of hits.