ACtually. ..
I made a sorc specifically with static maxed out along with TS and NOVA and LM.
Static isn't PERMENANT dmg, but rather it does do it, if the moster has hp regen then it will go up.
1pt in it is enough as plus to skill items should do the rest. I have a lvl 36 static and hit shit off the screen!
And it goes down to like 5% in normal, 25% in nm and only 50% in hell.