If Bleed worked in the fashion to which I always have seen it applied, I would love a lot more weapons. Essentially the percent should be how much of base weapon damage dealt over a short time, say like 5 seconds, and stacks. So the greataxe Slayer would have an immense amount of potential with a 30% bleed stat, dealing an additional 30% weapon damage over 5 seconds.
Bleed status was something I'd seen most commonly on daggers, as multiple rapid hits with bleed dagger would not kill the enemy, but the massive amount of stacked bleeds would. It was actually a fun mechanics I rather enjoyed in playing Sapper (DOT) roles.
I was really sad when I found out bleed was completely broken, as "bleed" to me is not "sunder". Those should be completely different, even if Bioware for some reason thought "bleed" should be "sunder" in this game deliberately.