The power of the P/W comes from the elite skills. Until level 25 elite was learned, I played my P/W as P/none.
The Battlemonk Stance cripples ability to heal and I rolled a P/W to crack some head and not to watch others do the same, so I put my TP mainly into the elite skills, Grace of Life, Amplified Attack, Wave Armor and the 1sec HoT (forget the name, how embarrassing).
I haven't found much of a skill combo to use with P/W since most of the skills are Instants and do not use any debuffs such as Weakened or Vulnerable that the W/whatever needs. I'd say just play about with the skills until you find what you prefer.
1H axe & shield allows you an extra set of stats but if you want to heal, you might prefer to use 1H Axe + Shield and a 2H staff.
The best healing skill is Soul Source due to it effectively letting you run through double your HP. For a more 'normal' heal, I'd say go with the 1sec cast hot.
... and mayby some str.
I'd recommend you avoid any stat that increases patt except patt itself. The patt gain from Int or Str just isn't worth pursuing, in my opinion.
I have found it to be quite difficult to properly gear up a P/W as nobody wanted a Priest that couldn't heal on their party

.
I mainly do world-map quests and sometimes follow my W/R into DoD or wherever to pick up the memento's. The P/W, more than any other class it seems, must rely on memento gear because hardly anything drops inside instances.