Knight has a way to pump damage with GM Armsmaster, with +2 to dmg AND recovery for each skill level, AND +Armsmaster items are abundant. No matter which weapon they choose, they'll do damage. A knight can choose to Master Mace to get the Stun effect (instead of spear) and then put the rest in Armsmaster for damage.

Monk has a way to pump damage with Master Unarmed, with +2 to dmg (but no recovery) for each level of skill, + Unarmed items are abundant. Master Armsmaster DOES boost Unarmed's Recovery, but not damage. +Armsmaster items are abundant so he can equip both a +Unarmed and +Armsmaster items to boost damage AND recovery. Just knowing the Armsmaster skill is enough for the monk to get Recovery bonus from items.

Thief gets +2 damage for every skill level from GM dagger but no recovery , similar to Unarmed. HOWEVER, unlike Unarmed, he WILL get 1 extra damage per skill level AND recovery boost from Master Armsmaster (so the Thief will benefit more from +Armsmaster items than the Monk). The downside is that no items boost the Dagger skill directly (items can only boost Armsmaster and Unarmed). A +15 Unarmed item would give the Monk +30 instant damage, +15 armsmaster would give the knight +30 instant damage(+ recovery!), but only 15 instant damage to the Thief: no matter if he uses 1 or 2 daggers, he only gets the armsmaster bonus once.

Paladin can paralyze. He has only ONE way to boost damage (putting points in Mace), and only ONE way to increase recovery (putting points in Armsmaster), since he's limited to Expert Armsmaster. He receives very few benefits from +Armmaster items (recovery only).

Archer can match the paladin in actual melee damage (Spears and Maces are similar in damage output), but his specialty is do major damage with a Bow. If you're going to put a LOT of points in the Bow skill, I recommend a Swift Griffin Bow over the Perfect Bow. +Armmaster items will only be of use for his Spear recovery time.

Ranger is inferior. Much like Archer, only no GM Bow. I have NEVER found the GM Axe AC halving effect working so I'll assume it's worthless. Since Spears start faster than Axes, (your Axe level need to be 20 for the recovery effect to make it as fast as Spear/Mace), your ranger might be better to put points in Spear and stay Expert. That is, unless you absolutely want him to use a Shield ( then you'll NEED to use 1-handed axes, since he can't learn neither mace or master spear for 1-handed use, and swords suck unless dual-wileded) He gets master bow, but 2 arrows in a row doesn't necessarily mean twice the damage in practice. If I'm wrong about GM Axe, please correct me and tell me how to make it work (or see its actual effect).
Cleric can stun with his mace, like a Knight can. The cleric's damage output will be similar, but slightly inferior to the paladin because he can't learn Armsmaster skill (and so, no recovery time bonus from the abundant +armsmaster items).

Druid will outdamage the cleric and sorcerer no matter if he goes Mace or dual daggers, because he can gain recovery bonuses from his Basic Armsmaster (and bonuses from +Armsmaster items). But he can't Stun with his Expert mace. NEVER use a staff with a druid, you get to use Shields for defense needs. And between using Mace + Shield or Dagger + Shield, obviously use the Mace + Shield: Mace damage can be increased with Skill Level.