Keep in mind that bumping up the damage by a great amount can have a much larger effect in a few ways.
1) Focused fire. With normal damage, a group of monsters concentrating on party member might get that party member close to death, forcing the party member to retreat, take a second wind, get some healing, etc. With 50% more damage, you might just outright kill them.
2) Weakens in combat healing. Normally a cleric healing might give you another round or two of action. With higher damage, it might not even buy you a round. Further, a standard action becomes a much bigger cost action wise when you cut the number of rounds in half.
Not saying the idea isn't good, just remember its a little more complicated then take off X here, add X there, everything is fine and wonderful.