Ever since update 9, crafted handwraps have been short-changed both to-hit and damage bonuses. (Before update 9, the reverse was true... non-crafted handwraps were busted and crafted worked fine.)
Test for yourself and PLEASE file bug reports... lots of them.
Try this:
(1) Equip non-crafted +5 handwraps and get buffed (GH, Ram's might, anything that raises to-hit and/or dam).
(2) Make a note of your to hit and damage. Hit the dummy a few times to confirm.
(3) Swap to crafted +5 handwraps... NOTICE: to-hit and dam are much, much lower!
This is even worse, try:
(1) Equip crafted +5 handwraps. Buff up, and note your to-hit and damage bonuses.
(2) Swap to +5 non-crafted wraps and notice your to-hit and damage are higher (what they should be).
(3) Swap back to the same +5 crafted wraps as in #1 and sadly note that your to-hit and damage bonuses are even lower then they were when you did step #1.
This is terrible. I'm upset. Aren't you upset? File more bug reports!