Yay for spreadsheets!! I made up two weapons, both with the same DR, but one with a higher spread (and consequently a higher max damage) and here they are!
In this picture, we have the two weapons being shown at 2% crit rate... you should NEVER have a crit rate this low, but I'll show it anyways. You can see that without any crits (non-crit av. dmg) both weapons do exactly the same average damage. Weapons with the same DR will do the same average damage before crits. Then we have a look at the average critical damage. The weapon with the higher max damage (and ratio) is clearly the winner here. note however that the weapon with the LOWEST ratio will have more crits above Max+1. Doesn't really mean much in terms of DPS, but I thought I'd point it out.
Here's the same weapons with a 20% crit rate, this only shows the sections which change based on crit %. no point clogging the screen with redundancy.
And just for shits and giggles, here's 100% crits:
Basically there's an increasing gap in DPS between the two weapons as you add crit%. The weapon with the higher Max dmg (and ratio) is clearly the winner here. Weapon 1 saw a 45% increase in DPS by adding 100% crit, weapon 2 (higher max dmg and ratio) scored a whopping 67% increase.
Incidently, minimum damage was used in one calculation, so I'm going to give it a bit more importance than I did earlier, but still not much. It was used to determine what % of your hits will be greater than Max+1. but since the lower ratios give you LESS hits bigger than Max+1, I really don't see the point. You can generally ignore the ratio if the DRs are very similar and just looking at the max damage will suffice. If the DRs are significantly different, then ratio wont really matter, just take the DR and go with whichever is biggest.
The Verdict: Ratio and Max damage can be used interchangeably for determining which weapon is better.