Yeah, as you said, you're way over the hit cap. But on the overall, it's pretty decent! Your gems are correct, although i put my nightmare's tear in my t10 legs, which allowed me to grab the gem bonus.
8.75/10 for the 12.60% to hit, but it's very good^^
Here's mine:
http://eu.wowarmory.com/character-sh...es&cn=Aelthais
I do not raid very often right now. It might change in a near future, but right now i still have some pretty indecent emblem gear. I got the bloods for the shadow's edge, but the saronites' farm is quite time consuming to me, so...i don't have this shiny axe yet.
Also, i finally registered to mmo-champion! It's my first post here, and English is not my native language so, sorry if my posts are a filled with horrible grammar mistakes or bad formulations. I hope to contribute well to this community, though.