Wow....lots of good questions. We'll see how much I can help out.
1) These are values for what shows up on the screen and in the details tab. So, for CC, that includes the 5% that your character automatically comes with. At the All Res (or "AR") refers to the lowest value (though its nice to have +fire or +lightning, that's not what values are generally talked about. As you get more advanced gear, you won't find any of these affixes on gear anyways, because all the affixes are CC, CD, AR, INT, VIT, STR, etc. When you are first gearing, at a low budget, I found it very useful to have +fire on one item, +light on another, +cold on another, etc....to artificially increase my total AR numbers)
2) I'm not sure at what point you hit diminishing returns, but it seem (just from watching the discussions in the forums for the last year) that 5500 armor and 900 AR are possible...and some people go beyond that. And I don't think there are diminishing returns. Obviously, a good balance is best. If possible, favor AR over Armor. You can go to the calculators on d3up.com and find out how much EHP that 80 AR is worth....then how much armor you'd need for the same amount...and it usually takes armor on 2 pieces.....where as you can put 80 AR on one.
More to your question....CM/SNS wizards with 40k life....actually have ~50k....or ever 60k life actually! Diamond Skin can do two things. If you use the diamond shards rune it will add to your DPS. If you use the crystal shell rune it will add to your life. Everytime that diamond skin is refreshed it basically adds 10.8k to your life pool. If you use crystal shell it adds 21.7k to your life pool. Enemy damage is taken off of crystal shell before it is taken off of your life pool. It is important to either use CM and Evocation -or- have high CC so this is refreshed quickly.
The basic premise of the build for incoming damage is 1) mitigation 2) Diamond skin 3) health. You want to first reduce the amount of incoming damage with armor or AR (-elite reduction, etc). Whatever damage is left over gets taken away from Diamond Skin. If anything else is left over, then it come out of your actual health. Then, you have LoH to help refill this if necessary. It ends up (one again, discussions on the boards over the past year) that reducing damage through mitigation (AR and Armor) si that a smaller amount of damage hitting a small health pool (35-40k) is much better than a larger amount of damage hitting a larger health pool (50k+).Since Diamond Shards contributes the smallest amount of damage (compared to Explosive blast, WW, and Storm Armor) its the first rune to change - swap to crystal shell for the extra ~11k life...you'll see a huge difference in survivability.
As far as EHP goes, that value is largely influenced by VIT. Stack VIT, and you can have a ton of EHP...but we consider that "fake" EHP. If you want to do EHP comparisons with your gear, just be sure that you keep your health between 35-40k....and make AR and Armor (or STR) comparisons from that standpoint.
Another way that many people are now (and alot have in the past) using to follow mitigation is to look at "total damage reduction" on d3up.com (also referred to a %mit). The D3 details tab I think only calculates "armor" mitigation (the 65-68% you mention). D3up.com calculates it all. So, while EHP is influenced by VIT/%life/etc....%mit is not.
For you (on d3up.com)
EHP: 202k (not including dodge...no cheating! Sites like diabloprogress include dodge)
All very low considering that you only have 3200 armor and 600 resists (and are just starting out). Here's an example:
Say you get hit by a spear from a spearman every sec for 10 seconds...and diamond skin refreshes every second. Each spear is worth 100k damage and with your current setup (202k EHP), after your armor and AR, that leaves you with 17k damage (i.e. after 83% mitigation). Subtract off 11k for Diamond Skin, and that leaves you with 6k damage. You can currently take ~6 hits before you're dead. If you add a ton of VIT (400), that gives you ~50k health and 300k EHP, and you can take ~8 hits before you're dead. Either way, you're dead quickly.
Ex B) Same scenario but your armor is now 4700 and you have 750 AR with an EHP of only 284k (still only 33k life). Each spear hits for only 12k damage (i.e. after 88.1% mitigation). Subtract 11k for Diamond Skin and you only take 1k damge. It would take over 30 spears to kill you....but LoH kicks in and you could take hits all day long.
I'll take scenario B. Yeah, stacking mit is expensive, more expensive than VIT - but when you reduce the damage down to small amounts a low life pool (35k) is more than enough.
90% mit is considered the gold standard, and obviously tough to achieve. Consider is along with EHP.
LS and LoH is a whole other story. LoH works well because of the tick rate of the WW's. Each one "ticks" 36 times over 6 seconds at 2.73 attack speed and you can have 10-12 twisters going at one time at full windeup. Each tick from each twister generates LoH. Going up or down a breakpoint give you more or less ticks, and changes your LoH return. You can do LS, but its generally recommended only if your DPS is over 250k
3) do not round....do the math yourself. The game calculates out to the third decimal, but rounds in game. There are very few times where this matters...(depends on IAS and +AS)....but I was helping someone where it did...and he was only at 2.725 (not breakpoint) but the game rounded to 2.73. ouch.
4) Wow. I'm not gonna touch this question. There's an answer out there, and Loroese could probably explain it...but there's also alot that is not understood. I can say:
- IAS has little effect in between breakpoints other than adding DPS. Most people stay at, or just above breakpoints for gear/gold consideration.
- adding an extra 6-8 CC can make it "feel" like a higher breakpoint from the freezing perspective. Since you have more CC you proc CM more and FN refreshes and casts more quickly. A higher breakpoint with lower CC gets the same result because of the extra ticks.
- LoH, since its not affected by CC, only changes with the breakpoints. The LoH return increases by about 20% if you increase a breakpoint.
5 ) 1) if you're doing ubers you really want to be at the 2.73 breakpoint. I usually run at 3.01. You can use the cold snap rune of FN to simulate 3.01. If you're at 2.73 with 55CC that would be great. Also, like you said, favor mitigation over DPS, esp if you're in a group - your value is in locking down elites and/or ubers to make everyone else's job easier.
2/3/4) if you're not doing Tal's chest (with IAS), then really make Zuni chest worth it for EHP (or %mit!). I'd max it out at 750+ armor and 75+ AR. Then, prioritize VIT over INT for the other two stats. You really should have BT pants (which have LoH...shoot for 800 total) with as much AR and Armor as you can afford (40AR/750armor or 60AR/600armor - check EHP or %mit to make your decision. balance is usually good...and cost effective). With your current Chant Will, you're going to need 7 IAS pieces (both rings (no unity), belt, source, gloves, lacunis, and ammy).
5) If you are at 700 AR and 4500 armor you can do MP8 or above....you just need to see what works. I usually (even with my setup, because I'm lazy) use UA for the extra life. That leaves CM and Evo for the other two passives. If you feel squishy, use Shell instead of shards for the extra 11k life. If you're still squishy, and you might be at MP10 (esp if you fall short of the stats), use Energy armor. I know...that'll kill your DPS because of no storm armor...but you'll easily survive. Using force armor will keep you from getting one-shot by Mag's swarm attack or Kule's fireball. I'm at 812AR/4673Armor with a litany ring (-6% elite reduction) so I can cruise through ubers on MP10 no problem. Only took me 10 months to get here!!
* I never see a wiz using a SOJ. Everyone needs to stack CC and IAS...so a SOJ never works out.
* DPS tests (cut and pasted from answering this previously). There are 2 ways to do it...based on what you're looking for. Alot of the multiplier figures kicked around are based on a single target.....and is really easy to obtain. The number you get has a caveat though - most of the game isn't played against a single target, but rather against a mob of enemies (major exception is Ubers). However, once you widdle that pack down your're left with a single elite, so it still has relevance. Its also useful against kiting elites, etc.... The second way gives you a value against a mob at full windeup.....but is harder to obtain.
The single target is Gohm, and the method is discussed here:http://us.battle.net/d3/en/forum/topic/7004691927
Basically, find out how many seconds it takes to kill Gohm on MP8. He has 70.6M life...so divide that by seconds and you get your eDPS. Divide by your DPS and that gives you your multiplier.
The mob test is more difficult. You really need, or it helps, to have video recording software. Turn on the life numbers for enemies. Find an elite mob, TP in, get to full windup and start recording. After 10 sec, stop. You can then go back and see what the elites' life was before and after 10 seconds.....then do the same math as above. That will get you a more real-world estimate of you eDPS and multiplier. You can also do this without video recording software its just more tedius, not quite as accurate, and you die pretty often trying to write life values for the elites and start your stopwatch, and keep the enemies all locked down. But, with some practice, you can do it.
Also, from a statistical standpoint, before you go sharing numbers around the forums, make sure you have an n=3 (repeat three times and average the values). This just makes sure there aren't any outliers and you are accurate as possible.