It's a skillshot. It's supposed to be hard to hit it, but rewarding to. I prefer the new spear, since you can place it in-between minions and actually outplay someone thinking that he just needs to stand behind his minions. She's perfectly fine as she is now. I'm a Nidalee main (before/after rework), and I love the nerf she got. It's the good amount of stats balanced she needed. I play Hybrid Nidalee. Simple as this.
I'm using AD flat in reds, 2 CDR flat in quint, 1 AD flat quint, armor in yellow and AP scaling in blue
I build Trinity Force (or Gauntlet vs AD matchup) and Chalice of Harmony as my two primary item. Then... I decide wether I need to build :
1 ) Critalee - Stattik Shiv, Panthom Dancer, Infinity Edge (based on movement speed, rapid bursting of squishy target)
2 ) AP Nidalee - Glass Cannon - Rabadon Deathcap (i would switch Trinity to Lich Bane if I planned AP), Void Staff and Rod of Ages/Zhonya.
3 ) AD Nidalee - Bruiser - Spirit Visage/Randuin's Omen (depending on fed enemy, I build both, priority to counter the fed one). Then, it depends on the matchup. Heavy AD team... Frozen Hearth is a good choice. Heavy poke team, Banshee's Veil can be a good choice. A late game item I like to pick Mercurial Scimitar for the active, the AD and the MR.
4 ) Hybrid Nidalee - This is how I usually play her. Trinity Force/Iceborn Gauntlet - (if AP matchup heavy) Athene's Unholy Grail/Blade of the Ruined King (if AD matchup) - Deathfire Grasp (bursting someone down when you deal ton of magic damage, still works well)/Zhonya (if I have TF, i'll prefer some armor) then i go straight tanky items with Randuin's Omen and Spirit Visage.
Yesterday, I played Nid top and it was amazing with Trinity Force and Athene's Unholy Grail. 30 % CDR (40 because I asked for an early blue), I add 100 AP, 150 AD at level 11 (without Baron). I was bursting down people, while being a bit tanky. I bought Mercury's Thread. With Athene and Trinity, I was at 90 MR. I was not tanky as I could be, but I was shredding trough people.
The point of playing Nidalee is to act like you were caught in a guerilla. Always be mobile, try to engage/disengage in order to bait people out of position. Land a spear... deal massive burst damage then kite... and let your team/cooldown get back to you.