Vlad with Tides of Blood, Spirit Visage, and Runic Armor pretty much cancel grevious wounds
1.08^4 x 1.2 x 1.08 = 1.76 times healing
1.76 x .6 grevious wounds = 1.06 times healing
Discuss
1.08^4 x 1.2 x 1.08 = 1.76 times healing
1.76 x .6 grevious wounds = 1.06 times healing
Discuss
Costs health to maintain and you're still at 1x instead of 1.75x
Visage is still a nice item but you wont have it at the start of the game when people have ignite or even Executer blade 
I planned to discuss, but then you told me to. I'm rebellious, so I'll just post instead.
you cant tell me what to do!
Vlad's still down 10% cdr from masteries / Ionian boots.
Hello scaling cdr runes. Love'em.