This has been argued on may forums and if you will try it yourself you will
see that this is correct: Weapon Delay and Damage has absolutely no effect
whatsoever. Only thing that will count is if you get a Sword of runes from
a magician which will proc on anything in the hands of a pet. but dly/dmg
makes absolutely no difference at all. At the lowest levels a single weapon
in the hands of a pet will make him hit a bit harder but that is the only
benefit. Here is what I do. I gather rusty daggers when something drops
them or I go to East Freeport and enter Hallards Resales. You can buy rusty
daggers there very cheap and save the time of hunting for them. I usually
buy 2 backpacks full and put one in the vault for later.

Fallonn