Magic Slim said:
A crit of 19-20/X3 IS better than 18-20/X2.
The difference is not big, though... a mere 4% extra damage per hit.
As to why the kukri is 18-20 and not X3, my guess is that they assumed that a curved weapon (scimitar, falchion) will have more chances of getting a crit, I guess, even though the kukri is curved the other way...
Slim
I DID do the math. I use the term "average-damage equivalent" (AEG hereafter) to mean that over time (and hundreds of hits) the average damage done by the two weapons should be the same or very close.
19-20/x2 is AEG to 20/x3
18-20/x2 is AEG to 20/x4
19-20/x3 would be AEG to 20/x5 or 17-20/x2. You'll notice that no weapon in the PH has such a high critical range. I would be very reluctant to allow such a weapon unless it was both a)an Exotic Weapon with no other special abilities, and b) had a base damage of no more than 1d6.
18-20/x3 would be AEG to 20/x7, 19-20/x4, or 15-20/x2. I wouldn't allow it, period.
Looking at the tables, it seems that for the most part, weapons optimized for slashing have high crit ranges, while deep-piercing weapons have high crit multipliers. The main exception is the rapier, a piercing weapon with 18-20/x2.
Sheer damage isn't everything, though. If you expect to be fighting foes with Damage Reduction, and lack the appropriate material, a weapon with a high crit multiple should at least "punch through" on the crits, whereas a weapon with a high range but low multiple may bounce off even on a crit. Conversely, any weapon with "extra" effects on a crit (vorpal, flaming burst, etc.) obviously benefits more from a high crit range.