An Augmented Scythe costs around 460k/hr to use - that's 245k/hr more than it costs to use normally.
For the 245k/hr more you are spending you get +6.25% DPS from Precise 5 perk (which costs around 4m with Armadyl gwd items or free if you dismantle warpriest), with an extra 2.7% (or 4% if you dismantle Raids/Tectonic stuff, but that's expensive so...) for Equilibrium 2/3.
You are getting an extra 9% (or 10.25%) DPS for a mere 245k/hr, compare that to Scrimshaws where you are paying 600k/hr for either 5% or 10% if superior DPS... And it's a bargain, really.
Armour is a different story, but I think augmenting a tier 90 weapon is definitely worth it.
Unslain Bosses - Clan
I do use an augmented Scythe for Araxxor but all this time I've been using Enlightened and Efficient perks for minimal costs
would you suggest I rather swap out with Equilibrium and Precise? And can the maximum perk rank of both the perks possible in 1 gizmo?
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I'd say replace Enlightened (that's the one that makes your weapon level up faster right?) with Precise and keep the Efficient perk if you are worried about costs. You aren't the first person I know that would have those two gizmos. - A Gizmo dissolver allows you to only remove one perk.
Also I think you can get Precise 4 + Equilibrium 2 on one gizmo, however I am not sure how rare it is. I went for Precise 5 because it's guaranteed with 5x Armadyl components and I am cheap!
Unslain Bosses - Clan