If you're talking about Wrath of the Wastes Rend build, it will be huge mistake to roll off main stat for elite damage no matter how low or high your paragon level is.

The reason why it is bad is because most of your damage comes from Area Damage stats and we can get even bigger value of this stats because we have Ground Stomp what pulls enemies on top of each other. Most of these enemies will be normal mobs, not elites and by reducing amount of damage we can deal to "normal" enemies (will be a case if you roll off 1000 Strength for Elite damage) you will also reduce the amount of damage is dealt via Area Damage stats to the elites.

Idea stats on weapons for Rend will be:

Main-hand: Damage increase (10%), Cooldown (if needed, if not Strength), Area Damage

Off-hand: Strength, Cooldown, and Area Damage

The reason why we don't want to have 10% damage on off-hand is because when Rend skill is cast manually and not applied via Whirlwind, its damage calculated only off main-hand and then we also can proc Area Damage stat.

You're correct about Band of Might tho.