The touch of malice is the equivalent of the vex and necrochasm. It's meant to come at a higher level.
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What about the 310 sword?
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I'd say it's meant to stay there as well. It comes about as a reward that starts when your legendary is at least 280 and fully leveled. It wouldn't make sense to have an exotic reward that's lower than the legendary.
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Technically 281 would be higher than what is required for the quest (though I love my 310 xD)
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Haha, it still wouldn't be rewarding, as most people overshoot 280, and 281 isn't a neat number :P