How large the damage numbers are for a power/set is not all that meaningful since you're not going to just use a power or the set of power from a set just one time. You are going to attack something until it is defeated, so how often you can make the attacks is important because a 1000 damage attack you can make only once make once minute is less effective at dealing damage than a 300 damage attack you could make every 15 seconds.
There are two factors which determine how often you can attack, how often the power recharges and how long it takes to animate. The power has to animate before you deal damage (hence why Kinetic Melee: Concentrated Strike is so strongly disliked with its nearly 3 seconds of waving your hand around--things can be killed while this happens by other team members, leaving you hitting nothing). The power then has to recharge before you use it again.
You may use Mid's to look at powers and powersets from this standpoint and get closer to meaningful comparisons of powersets. But even then, you are going to fall short of complete accuracy because the effort of defeating foes requires you to string attacks together and that means finding a sequence of attacks which combined yield the best damage over time. Also, recharge, both slotted in the power and applied via debuffs and global recharge, change how long it takes a power to recharge and so impacting what viable sequences can be constructed.