Ok...no problem. Sometimes we get people from out of nowhere who come into the forums, "make claims" and are total bitc**s about it. Epeen, blast nonsense, spew hatred, and madness ensues. We don't like that. But, since you're new here and want to learn and brainstorm, that's certainly cool.
Yeah, the MP8 Gohm test isn't the best test, but its basic, easy, and readily tested. Just set your toon up with SNS but switch out Time Warp for Storm Armor. Get out a stop watch...and kill gohm refreshing your bubble every 6 or 7 seconds. Quick math will give you your multiplier. Granted, its against a single target, not a bob, but its a start. Getting a multiplier against a full mob is more difficult....but if you can't the SNS multiplier against gohm, then you probably won't against a full mob.
And, yeah, the storm armor damage I'm talking about is NOT the big lightning bolts from the sky. Its damage is worked into the WW damage. So its really difficult to see.
Check out the CM/WW simulator: http://d3cmww.com/cmww -----> mind=blown
Here is another link where Shandlar (legend around here) went through some math. http://us.battle.net/d3/en/forum/topic/7708262216
I, honestly, never had time for the math. I just understand the outcomes, and relate those in the guide. Shad doesn't hang out here too much. After understanding everything there was to know about CM Wiz he went to figure out everything there was to know about Monks. Our resident math expert now is Loroese, one of the originators of the build. Just call him out in the title of a post, and he'll gladly work through some of the math with you. He loves it.
But you are correct, different situations mean different builds, but some of the basics of the build should never change:
WW/EB/DS/FN/SA for actives and CM for passives. Runes can change, and passives too:
DS: shell, if you need more mitigation...otherwise always shards (for DPS)
FN: Deep Freeze for farming, Bone chill is great as a party buff (and for ubers), cold snap also good for ubers (makes it feel like an additional breakpoint)
TP is usually the last active skill....its usually wormhole for moving around quickly, but safe passage is good for ubers for the damage reduction. Otherwise various bubbles (like you suggested) are good for playing in groups. Stretch Time stacks (if you have 2 or more wizards) where as Time warp does not. Oh, Magic weapon electrify is also a huge DPS boost with big mobs...so its can make farming quick if you're farming with a slow-moving group (and don't need TP).