QUOTE(BlueWaterSplash @ Ponyverse Chat)

I wonder if Fiery is not underrated for 1H. Though the Electric shield may be useless it does not reduce the frequency of 1H counters. I recently
calculated that Swift Strike 5 while lowering incoming damage by 10% may reduce 1H damage output by 2.3%, about the equivalent of
negative Butcher 5, assuming an average of 1 counter per turn [5*1.92%*0.75/(0.75+2.4)]. Cold and Wind Shield should have equal weakening effect as they also improve defense by 10%.
Looking at the elemental resistance chart on the
Monster Lab wiki the monster resistance sums are Fire 125, Cold 75, Elec 150, Wind 100, Holy 0, Dark -50. We could say that Holy and Dark are roughly 125 resistance better than the four elements. Divide by 13 monster species and this means
Holy Strike and Dark Strike are roughly 10% more damaging than the other elements. Averaged real world data in
Research for 1H has them at 8% to 9% more damaging.
As specified in Research for 1H, one elemental strike is roughly 0.25/2.4 = 10% of your main attack damage. This means that
Holy and Dark weapons are roughly 1% more damaging than other element weapons which is roughly the equivalent of 2 Butchers or
24% ADB. I think this is reasonably consistent with how our population values 1H rapiers overall and how Item World is approached on ethereal rapiers.
Without spike shields, the real world data in Research for 1H is the exact same for Cold, Electric, and Wind, but
Fire is 10% worse. This seems at odds with the original resistance sums of Fire 125, Cold 75, Elec 150, and Wind 100. The reason is that some species have way more health than others, so in reality not just the sum matters but what kinds of monsters are weak or strong to a particular element.
Spike shields add 25% damage to the elemental strike but because enemies don't always have the status the real world effect in Research for 1H was
11% for Cold Strike and
16% for Fire Strike. In reality it depends how you play but Cold Strike with Flame Shield is probably slightly better than Holy and Dark Strike against regular monsters, while Fire Strike with Shock Shield is still slightly worse.
Wind Strike and Electric Strike with the proper shields should have the same
1% overall damage boost as Cold, Holy, and Dark Strike, but there will be a
2.3% damage penalty from less counter attacks. While this balance can be shifted by your targeting playstyle in all likelihood
it's better to just use Flame Shield with all elements except maybe Fire Strike.