50% more damage 1% of the time is a DPS increase of .5%. 100% more damage 1% of the time is a DPS increase of 1%. 150% more damage 1% of the time is an increase of DPS by 1.5%. Therefore if you are going to stack critical hit chance you must get at least +51% critical hit damage if you want to out preform IAS. Otherwise you might as well be stacking IAS for damage, spirit, and LoH.
So I'm not going to post a skill build. I'm going to give you a skeleton of one.
Cyclone. This is the heart of the build. every critical hit generates 20% more damage. Its effective and its fun.
Mantra of Evasion - Hard Target. When you're on a budget this gives you the most effective hit points. If you're rich and have great gear then you can move to Mantra of Conviction - Overawe.
1-2 spirit generators. I'm rolling Deadly Reach - Keen Eye and Blazing Fists. Why 2 spirit generators? Well if you're on a budget you're going to pick up the heaviest hitting + critical hit damage weapon you can find. This will leave you with an abysmally low attack speed and not much spirit. Spirit generators are free to cast and they offer a lot of utility. People often like Thunderclap paired with Cyclone but I don't care for being so close. I hit once with Blazing Fists getting a +15% attack speed and then swing with Deadly Reach until i need to Blazing Fists again. But this part is really up to you and your needs.
Serenity because every monk everywhere uses it.
Another defensive skill. I prefer Breath of Heaven - Penitent Flame. The fear effect lets you get out when monsters have surrounded you. Blinding Flash would do the same kind of thing - the healing + a damage buff.
One with Everything is a must. The same goes for seize the initiative. Then either Resolve or Transcendence. Basically you run Transcendence until you get enough other sources of life gain. Then you drop it for the added 'resists' of resolve and the fact that resolve also helps the other people you are playing with survive.
Sword and Board is how this rolls.
The Sword can be any 1 hand weapon. You want some dex and either a socket you can stick an emerald in or straight up critical hit damage. You can pick up an 800DPS weapon of this sort for just around a million. I picked one up for cheap for 400K.
Dex, Resist, Critical Hit Chance. Don't skimp on the crit chance.
Gloves + Helmet + Bracers + Amulet need Dex, Resist, and Critical Hit Chance.
Rings need Dex, Resist, Critical Hit Damage.
(For some reason critical hit chance doesn't come in very high values on rings.)
On the rings and amulets you should also try to pick up either a little Life on Hit or Life Regeneration. These come pretty freely on rings. Life Regeneration should not increase the cost by very much.
On every other piece of armor you want Dex, Resist, Life Regeneration.
And you need enough vitality in there somewhere to be at least 25K HP or so
The idea is simple. This is neither a glass cannon setup or a useless brick build. You tank with Life Regeneration. You have pretty solid DPS. You spend much less money because the stats that make the build work are distributed evenly among different pieces of armor instead of concentrated in one ungodly expensive weapon or something.