WoW Spell Attributes
Spell Damage (or +damage), usually written in the form "increases damage and healing done by magical spells and effects by up to X," is the primary way a spellcaster increases the damage they deal. It may enhance some spells more than others, based on their cast time. (See spell coefficient.)
Healing is similar to Spell Damage, but specifically mentioning healing effects. The quantities of +healing are generally twice as high as basic spell damage. In version 2.3, all items with +healing also had a minor +spell damage component added to them so healers would not be defenseless in healing gear.
Mana Regeneration (MP5) adds mana to your character every 5 seconds. Unlike Spirit, mana regeneration always functions, but at a slightly lower rate.
Spell Crit Rating increases the chance to land a spell critical hit. At level 70 it takes 22.1 points of spell crit rating to add 1% chance to crit with spells.
Spell Hit Rating reduces the chance to miss (resist) with spells by 1% for each 12.62 points for a level 70 character.
Spell Penetration reduces the amount of resistance a target is considered to have.