more correct outgoing damage formula:

base damage + ((base damage * critical chance)*(1 + critical damage bonus)) * attack speed

Example:

100 damage.

10% crit chance

10% crit damage bonus**

2 attack speed

10% crit chance with a 10% bonus to crit damage will equal 111 damage per hit, on average.

2 attack speed will cause 2 attacks to happen per second. 222 dps is the total.

***Crit bonus starts at 100%. If you add 10% via runes, that ups your crit bonus 110% bonus to damage on critical hits. *

The key thing to remember is that crit chance, attack speed, and damage all become less efficient as you add more... so the fastest way to a high dps is to make sure your character is balancing them. Crit bonuses don't become more useful than crit chance until much later than most people realize, and even when they do start to become useful, it's a whilee before they pull measurably ahead of crit chance. It's usually more useful to get crit chance, but after about 60% the crit damage starts to do better.