You get a smaller bonus but you still get a bonus to the weapon damage. Instead of gaining 2% every 2s you gain 1% if your weapon damage is overcharged.

It does make it less useful, but is still nonetheless a way to improve your weapon damage and skills that scale with weapon damage.

OC goes up with level, and iirc it goes up with VR. You will still be overcharged at V12.

I never understood why they would put such a short duration buff that requires many recasts on a weapon with such a slow attackspeed. The added damage of the skill needs to match the second of dps that was lost recasting it and doing no damage.

The big problem with Momentum is that it hits diminishing returns really, really quickly, to the point that it no longer becomes worth the opportunity cost of having it slotted over something else. Which is really disappointing, because its a fantastic idea for an ability.

To make Momentum a more compelling choice, ZOS should do something along the lines of the following;
1) Greatly increase/remove the weapon damage softcap.
2) Alter Momentum to increase damage done with 2H basic attacks and abilities.
3) Alter Momentum to increase critical strike chance/damage.

In essence, the ability needs a built in way to circumvent the current weapon attack cap.

Rally would be great if it returned health over the abilities duration. As it is, its really hard to know if the extra boost of health will be of any use once the 23 seconds have passed. This is especially true if you have any self healing that you use frequently or if you have a competent healer.