The Owl Bear Cub is only worth it for multi-hit attacks (ie. Pillar of Power from the Scourge Warlock). We don't get the same use out of it due to what encounters the companion works with and how the extra hit takes place. You'd do more damage with an increased crit rating, as that will affect all of your attacks, not just…
Noticed this the last few times in FBI: During the Dragon Turtle fight when he's on the island and actively attacking, I've had combat end when in front of him, allowing me to drop an altar. This has the added benefit of dropping all of my temporary HP as a Paladin. I'm sure this is not the intended effect, as I figure…