I'll play around with it a bit. I had 50 faith on my first character, and I don't recall lightning bolts one-shotting the skeletal dogs & Giants. I've never seen Wrath of God do much damage outside of low levels. People seem to use it more for the knockdown. I've seen people try to spam it for damage at the high level, and its just funny, especially with higher m.defense.
I use G.Combustion & Chaos fireball a lot in pvp at the mid levels. The lava aftereffect has been great for spacing hosts and phantoms, even if it only last a second or two, people tend to react to it. I don't know if I'd try mid fight, even with high dex. Its more for baiting.
* Dorked around with the Hallows and the Baldur Knights at the Parish in NG+++ or so. The damage between Greater Lightning Spear and Chaos fireball (1st/initial hit) are about the same, given armor. This is with 50 Faith & Darkmoon talisman, and a +5 pyro flame.
563w, 542b - Greater Lightning spear
551w, 533b - Chaos fireball
691w, 681b - Greater lightning spear w/ First born ring.
706w, 671b - Chaos fireball w/ Dragoncrest ring.
961w, 841b - Chaos storm w/ ring.
541w - Emit force w/ ring
608w - Wotg w/ring.
Didn't test Sunlight spear since you need to be a sunbro to use it, and I use this character for muling now. I don't recall it being all that big an improvement over Greater. Anyhow I'd still say thats pretty big advantage since you don't need any stats to get it vs a full 50 faith. Should try my mage, but i know I've cracked 1k damage with her with 50 int w/ rings. And she's only in NG+ so weaker enemies, too.
** 1369w - Crystal soul spear w/ ring. Heh.