200% Pen will not be enough. Using Valk and/or Murphy pumps FDef to 70-80%. Using the addlt formula in PEN... 2 - 1.5 - 0.7 to 0.8 = 2 - 2.3 to 2.2 = 0.

200% Pen will only work on enemies with less than 50% FDef which between mid to end would be none.

Note the general idea of the addtl formula is getting your PEN higher than 150% or 1.5 + FDef of enemy.

Also 200% Pen would be really hard for 2H since you can only get Pen from cards & talis/acce. Most probably your acce will be STR rings. Ergo talis + card would be your best bet.

White Pen talis gives +4%/refine. At +10 (would be very hard) it will give +40%. Provided you have refine awake II you get +20% so 40% * 1.2 = +48%. Pen talis can give you around 40-60% Pen via upgrades & tier up so around 100%+ Pen.

Even if you use Whispering Demon Statue (Gold Pen Talis), would still be hard to get 200% Pen. Iirc WDS gives you maybe 6-8%/refine. So at +5-6 this would be challenging it will give you 30-48% Pen. Since upgrade are the same it will still give around 60%+ Pen. So 100%+ Pen from talis. Refine Awake II will kick that to 120%+. 80%+ is still a lot.

Ergo, for us to enjoy the addt'l dmg from Pen we need a weapon that ignores def which 2H spears doesn't have.

But I agree 100% is quite good then pump FDmg bonus.