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@ SonanceFalc, take a look at this thread about the benefits of waiting.
@Rannoch, as far as the waiting argument goes, seeing as you've already seen the thread linked above, look at it like this. You generate resources every second, or every ability used. If you use every single resource generated by the end of the fight, and don't stop generating at any time, you can wait as long as you want and not lose damage. The trick is waiting long enough to make a difference, but not so long as to waste resources. Frost is a little more clunky then unholy at this time because of KM.
And the only time you ever want to use death coil as frost, would be if you cannot hit the boss for 18+ seconds, and you have the runic for it. If you're spamming HB during an air phase, that counts as hitting the boss, but DC is worth using to not get capped, but not to unload.
Interesting idea, I'll take a look at it.
It's easy to calculate exactly how much razor-ice is worth, single target. Frost 2 hand is about 40% frost damage, but you can use your own % here, as 2hand doesn't even use razor-ice. Obviously the numbers will be different for duel-wield.
(Dps dealt * % of dmg that is frost)/1.1 =frost dps without razorice
(Dps dealt * % of dmg that is frost) - frost dps without razorice = value of razorice 1
weapon dmg * .02 = value of razorice 2
value of razorice 1 + value of razorice 2 = value of razorice
Dancing steel = 1650 str * proc uptime
proc uptime is at 1 rppm, unless i'm mistaken, and lasts 12 seconds, so let's call it .2
dancing steel = 330 str
330 * value of str for your gear = dancing steel value
if dancing steel value > razorice value, try it out, otherwise stick with razorice.