Your crit damage overall is abysmal. Find crit damage on jewelry and boost the stats on your gloves. I also don't see how you can survive with just 3% life steal. Pump up the life replenishment stats (LS, LOH and/or regen), add more resists (which is something I should do for my monk) and vitality to boost EHP. I can't tell if your 70K DPS is unbuffed or buffed. If it's unbuffed, you should be able to hit 120K buffed paper DPS easily with Faith in the Light and Blazing Wrath.
I blew a big wad on a bunch of high end equipment, including a socketed EF, only to find I didn't like it. (EF's fear + Thunderclap teleport hosed me every time a molten ran away). Time to regroup. I'm glad to see my thoughts were the same as others: upgrade gems, get socketed weapons. Those were the most obvious. I didn't focus as much on resist as I should have. That, and probably life steal. Those are my current goals.
I currently do MP3-4, so I the 3% lifesteal seems okay for me so far. I haven't really tried higher MP levels yet. I will keep that in mind moving forward.
Last question, is there a resource where I could "plug in" some new weapons to my profile and see what that would do to my damage?
Look up DPS spreadsheets, damage calculators, DPS calculators, etc. that pertain to D3. They should exist in this forum (I know the wizard forum has one that caters to wiz's), and you can definitely find a bunch through Google.
ianpugh, you should use a spreadsheet to see how different gear/stats would affect your character.
There are a few floating out there in cyberspace, but I'm not sure which one is the best (and which ones are kept up to date).
I'm sure Jaetch can enlighten you (and me) about this.
EDIT: damn! Not only did he do just that, but he beat me to the punch
As indicated above, I made a couple of changes last night. Sold the EF and bought a Shenlong's Relentless Assault w/ almost 800 LoH. My net damage is less but my survivability is way better. I tried to do some donkey math on LoH vs. LS, and based on my current damage, I got a lot more out of LoH. Especially, bang for the buck. At my current damage, LS would have cost me 2-3x what I paid, even though supply was much lower.