Axe modifiers, can someone tell me the difference

On this axe can someone tell me if i applied an axe grip of enchantment..what would it replace? Would it replace the vamp part or the extra armor part? I was thinking of changing this axe because I have an 18% axe grip of enchanting. Would it be a better axe with this mod?

It would replace the armor+6

I would keep the armor, but thats just me. Realy nice axe though.

I swapped it for the ench and people seemed more interested in it. The offers Im getting are sort of funky though. I hate LA. Maybe Ill just auction it off here.