Quote from Froglord of DESTINY!!!;1166623:
For hats and accessories you have Ice mastery, which is 0.5% per level, up to a net maximum of (10% + 1.5% + 1.5%). Hailstorm maximum damage also adds 200 damage to the spell, making it 500 per charge, rather than 300.
In cases where some players hit about 50k+ with hailstorm, which should come first in terms of efficiency for damage output?
Hailstorm maximum damage is obsolete - you should be aiming for Magic Attack reforge, which will add 256 to the spell damage at level 20 (In addition to raising the damage of other spells, but that's beside the point here).
As for the ice mastery reforge vs Magic Attack reforge, after poking around with some numbers and ignoring R types/title bonuses you need over 800 magic attack for ice mastery to give more of a return then the magic attack reforge.