I'm trying something like that in PvP but with a CP160 NB (argonian) though it is not finished yet. Works, but:

1- You need to stack wpn dmg as much as possible
2- I've distributed blue CPs into Mighty and Thaum, with some of them into precise strikes. I use 73 mighty, 73 thaum and the rest on precise. The ticks are strong
3- You need a skill or a set to reduce healing, so the DoT is effective. Lethal arrow or a disease gliph help a lot. If you can get crest of cyrodiil or Fassalla's 5 pieces is a good option too (crest IMHO is the best option, but you are forceed to wear 5 HA)
4- You need a reliable heal
5- Rapid strikes or Bloodlust must be your spamming skill if you apply the dot with venomous claw or twin slashes, and especially if you go with axes. Otherwise you are loosing DPS and res. The idea of the dot is to do efficient dmg at low cost
6. Mundus: Shadow. Period. Stack crit chance through camo hunter and wpn dmg through sets and buffs
7. If you can get Skoria set, do it
8. If you can get MSA axes/Daggers, do it
9. Master's bow is good. Not a great option, but helps attacks from distance. MSA is an option too.
10. As a DK, Vicecannon or Morag tong should help your dps, but IMHO it is better to stack wpn dmg (and penetration) and increase DoT through Thaum.

My final build gear should be this:

5 hundings
2 Valkin
3 agility
2 MSA axes
1 Master/MSA Bow

Curently I go with 5 hundings/5 flankist (the cheaper set I could get Y_Y), 2 Night silence (axes) and just another regular purple bow

7 medium for the cost, dodge roll and sneaking reduction, stam regen, detection reduction (in IC is quite useful) and sprinting speed.

My rotation: lethal arrow -> medium attack -> poison inject -> swap -> ambush -> blood craze -> bloodlust FTW

Hope it helps you with your build

DW, is the other morph for Rapid strikes. It heals you on the last hit. Since it is an Argonian, it is a good idea an extra source of healing. Same as Blood Craze

For a Redguard or an Imperial, it is better to go with rapid strikes IMHO