TL:DR
Lovetap can have 32ish concussive damage, which is low, but it is difficult to stagger its user and it has better combos & stagger dealt itself. Very easy to use.
The best crafted truncheon has 80ish concussive damage, the highest. It is easy to stagger its user and it deals low stagger itself. Harder to use but very effective in skilled hands.
Lovetap has the same amount of concussion damage as the very first truncheon you can build, which is not very good (15 on lights, 20 on heavy). It can be boosted with a blunted kit, the best giving +12 for a maximum of 32 concussive damage.
The best crafted Truncheon is the “Heavy-weight Truncheon” (recipe from the Unnamed City) can get up to 74 on lights and 80 on heavies. This is with a Driver Thrall to craft it and an Advanced Blunted fitting.
Lovetap has one trick up its sleeve however, which as others have mentioned, is the mace moveset. Not only is it a better moveset, it has hyperarmour, preventing you from being staggered while swinging yourself.
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