Here's the formula I got from the theory crafters at eqoutrider.
ppm = 2 * (100 + procratemod + worn combat effects + WA modifier)/100
so assuming you have no aas or combat effects for that 400 mod spell:
2 * (100 + 400) / 100
I mean the way you're talking about there would be situations where x > 0 && x < 100 where a proc bonus would be detrimental.
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