Damage = Power * Weapon Dmg * (Critrate*Critdmg + (1-Critrate)) / Defense.
Before effects of traits or vulnerability.
A weapon with higher base strength scales directly with damage – a 10% increase in weapon damage is a total increase of 10% dps. A weapon with power scales relative to the total power you have. For instance if your weapon has 100 power but you already have 2000 power from other sources, you’d only have an increase of 5%. But if you only have 1000 power from other sources, you’d have an increase of 10%.
Condition damage doesn’t care about your weapon strength however, so it tends to do much better when undergeared, whereas power builds require good gear, preferably ascended weapons.