If the DragonStomper is the most powerful Pistal.(to what some say) Then is the Hammer of Wilmagedon the strongest hammer in the game it's 111 power but it has Shock damage and Fire damage when you fully Upgraded
But I'm saying if you add in the Shock and Fire powers the power itself is weaker then Jack's Hammer but if you upgrade the Hammer it does Shock damage and Fire damage plus the 111 power damage
If you're talking about the upgrades as well, it's a matter of opinion and what a given player prefers. For one player, the superior base damage and extra damage against humans, dark minions, and sentinels that Jack's Hammer provides may be more appealing than a mixture of fire and shock damage. For another player, the ability to scorch and electrocute enemies might be enough or more than enough to make up for the Hammer of Wilmageddon's shortcomings. It's all up to what the player wants.
Arseface is right though. Because of the morphing system, I've never used anything in Fable 3 just because it was powerful. There's no need to always use these "holy grail" weapons. Make your own with the Hero weapons and be proud to call it yours and nobody else's.
Honestly, the last two Fable games are easy enough without needing the strongest weapons. Just go with your favourite looking one*.
* Oops, never mind. Akward....