Best PvE 2 Hand:
http://www.wowhead.com/?item=30902 (138 DPS)
Drops from Archimonde, last boss in Mount Hyjal with an average 16% drop chance.
Best PvP 2 Hand:
http://www.wowhead.com/?item=33688 (134.2 DPS)
Costs 3750 arena points:
5 weeks in a 2vs2
4 weeks in a 3vs3
3.5 weeks in a 5vs5 (4 weeks if the player has 0 arena points when started to 'work' for it)
Best PvE "Mainhand" non-Dagger Wep:
http://www.wowhead.com/?item=32837 (109.3 DPS plus much higher basedmg cause of slower Speed)
Drops from Illidan, last BT Boss with an average 6% drop rate
Best PvP "Mainhand" non-Dagger Wep:
http://www.wowhead.com/?item=33762 (103.1 DPS)
Costs 2625 Arena points:
3 weeks in 2vs2
3 weeks in 3vs3
2 weeks in 5vs5 (3 if the player has 0 arena points etc etc)
Best PvE "Mainhand" Dagger Wep:
http://www.wowhead.com/?item=32471 (106.1 DPS plus much higher basedmg cause of slower Speed)
Drops from Illidan last boss in BT, with an average drop rate of 17%
Best PvP "Mainhand" Dagger Wep:
http://www.wowhead.com/?item=33754 (103.1 DPS)
Costs 2625 Arena points:
3 weeks in 2vs2
3 weeks in 3vs3
2 weeks in 5vs5 (3 if the player has 0 arena points etc etc)
Best PvE Ranged:
http://www.wowhead.com/?item=32336 /
http://www.wowhead.com/?item=30906 (95.8 DPS)
Drop from Illidan last boss in BT with an average drop rate of 23%
Drop from Archimonde last boss in Hyjal with an average drop rate of 13%
Best PvP Ranged:
http://www.wowhead.com/?item=34529 (93.2 DPS)
Costs 3750 arena points:
5 weeks in a 2vs2
4 weeks in a 3vs3
3.5 weeks in a 5vs5 (4 weeks if the player has 0 arena points when started to 'work' for it)
So, for starters, on PvE you get a random number generator messing you earnings, as an example, you knew there are guilds farming illidan for several months and never saw 1 shield drop ? and not even 1 legendary ? and then IF and IF the weapon drops you might not win it, as other people want it and your 'competing' with them to get the weapon.