I'd say go with the Lightweave. It is tailored for... well... tailors and it's sort of the boost for getting your skill up that high. This is somewhat of a PVP embroider though. It has been shown to go off at nearly 50%, but with an internal cooldown of 45 Seconds which means you'll see this at the beginging of every fight, but it wont come into play much on fights lasting 30-45 seconds.
Sure its only +24 DPS if your locked in long battles, but for cleaning up trash or dealing with pesky PVPers, the extra damage burst will be clearly noticable.
As for the ring, definatly grab yourself one. Especially if you have a JC friend, or hell can even trade something out of your Tailoring stuff. The ring apparently isn't that hard to make (I dont have a JC so I dont know) but the Frozen Orb is definatly the hardest piece to get and if you can supply the materials I'm sure someone will hook you up.