I really like to shield cancel after the first hit of the Flourish or Leviathan (preferably with max or near max attack speed for Leviathan). You can get quick attacks with no vulnerability insanely fast. You mentioned this, but I do it a lot just with the first hit, not with the three hit combo. It's hard to get used to but when you do it is pretty nice. I haven't tested it, but I'm pretty sure it's more dps if you do it correctly. I could be wrong. It also doesn't move you around because you're not doing the three hit combo that pushes you forward.
note: The first hit of the flourish has a VERY similar wide attack that the faust / avenger line has. I think it's way better than the full combo just spamming the first attack with the shield cancel. It's like swinging an avenger but super fast.
edit: Forgot to mention it's good to shield cancel after Avenger / Faust as well. That's more for protective measures because the second swing leaves you open for a while. The other swords are good to just pump out really fast damage using the shield cancel.
i only recently saw myself shield cancelling, and didnt even think of it as such. really interesting technique to try mastering...
also, would the average dps be better on 2 shot guns too, like autoguns or the xxxtech series?