Orcs and Tankweapons
I currently have the easily obtainable Axe of the Sen'jin protector, and am in a guild that is working on finishing Naxx 10. I'm debating whether it's worth it to put blood draining on the Axe, and whether or not Slayer of the Lifeless would be an upgrade. Slayer is certainly better EH, and the axe is probably higher threat (although slayer is a lot faster, for what that's worth.
How do you decide at what point a non-axe (or equivalent weapons for humans and dwarves) is an upgrade, for that matter?
I'd base it on content you're doing and the problems you are experiencing. If healers are having problems keeping you up then you should probably go for EH, but if DPS is out threating you you should focus on threat, and this can vary between fights. Imo you could use both and swap out as needed, use the axe for threat and the sword for EHP, put like mongoose on the axe and blood draining on slayer of the lifeless, however I would recommend trying to get the weapon from ToC5, as it is probably better than both of them.
I use an addon called Equivalence Points, which I use to numericly weigh & add up the values of certain stats. I have 2 stat 'sums' being Mitigation and Threat and based on those, I pick up items for any of my 5 sets (Balanced/Base, Avoidance/Unhittable, Block fun set, EH and Hit/Threat)