Remake Essence Reaver? Remake Essence Reaver.
What this item is supposed to do: Provides offense and HP/MP sustain to AD castery champions
Why this item fails at what it's supposed to do: No mana sustain until it is completed, requires BF sword making it rush or nothing if you want that mana sustain when it is relevant, only sustains off basic attacks, directly competes with other (better) lifesteal items for use, directly competes with Muramana in the mana department and totally loses on both the mana and offense front.
So to that end, I'll suggest here two potential remakes for the item that I suspect would provide it a unique and compelling niche that sets it apart as an option from Muramana and Bloodthirster.
Reaver the First
Provides AD, CDR, MP/5 and:
UNIQUE PASSIVE: You recover 10% of the damage you deal as HP and MP, 1/3rd effectiveness on AoE skills
Reaver the Second
Provides AD, CDR, Mana, Armor pen, HP, Valor's Reward, and:
UNIQUE PASSIVE: You recover 10% of the damage you deal as HP and MP, 1/3rd effectiveness on AoE skills
Both options (in slightly different ways) provide a champion with an early source of mana regenerations (Valor's Reward and Idol's MP/5, respectively). The first version could be completed a lot earlier than the second, though the second is clearly more slot efficient and has a beefier early game with Catalyst. Most importantly, both new Reavers now offer something that no other item does, Spellvamp for AD champions, something the game has been sorely lacking for quite some time.
So what says you, GP&B? Which version looks more attractive to you? Or do you favor the gross old Reaver with its completely counter-intuitive build path and CDR outta nowhere?