Ulfrik_Wulfgar, I believe that the +19 max damage will, in fact make up for the 23 loss in power.
Personally, I found that leveling with moddable gear tended to make my gear upgrade questions a little simpler. Instead of looking at a piece of gear as a whole with tradeoffs, I just had to obtain improved mods at the commendation vendors or at the gtn.
A might hilt 11 is going to be better than a might hilt 10.
Hope this helps.