Yep, hence why my post said "I would say cumulatively."
I don't disagree that's the interpretation we'd all prefer was in place. It's just a case of poor phrasing by WOTC and a lack of a good errata once again. If my reading's conservative and most reasonable DMs see it your way, then happy days.
Sure. For which it delivers a modest-ish increase in damage given light weapons tend to bob around the d4 or d6 mark, resulting in a rough +1 or so in expected damage. I don't disagree. That said, given the weapons are only changing in terms of effort used - and not their applicability to things like Power Attack- I just think the main practical use for M.Grip is on Large two-handed weapons.