Didn't you run with Hiro and I a month or two back, Cash? I feel like we were doing some dungeon runs and you joined for a bit. Maybe it was on your rogue?
My DH is mostly budget, got a few decent items, but iirc she is around 832 ilvl (logged out in speed set). Like you, I am a firm believer in all leather. The main issue with the class is crit for fury generation. Even with 100% crit from Eyasu /use I have had periods of several seconds where my fury generation was zero. DH is a very, very finicky class at 101.
My speed set is 232% unbuffed. DPS is garbage though, just use it in between pulls.
What most people don't understand is the class can be used for different things. DPS is HUGE for running dungeons because it can save you just as much (or more) time as moving quickly. My DH is a tad slower than my DK when I run HoV. I have yet to break 8 minutes on the DH but I guarantee I could if I upgraded a couple pieces. My DK can break 8 minutes no problem (with bear tartar.)