So guys, My character is RAGE DPS and it has 3124 Might and 1164 Precision? Which one should I focus on? and why? I'm in T5 right now and I commonly do a lot of PVE.
Well, since you're supposed to be using a power and then doing weapon combos to leverage that damage bonus, and this also has the side bonus of regenerating your power (and lets not forget you can always swing your weapon, even if you're out of power) then Precision wins out over Might pretty much all the time.