Doesn't it make more sense to...
Not nerf Maw of Malmortius by taking away 10 mr and the attack speed but to:
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remove the armor pen
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lower the ad
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attach more overall value on lifegrip than the stats
Lets look back at the purpose of the item- Maw was changed to "create the feeling of just staving off death" with the lifegrip passive and when that passive is triggered you're supposed to get these bonus benefits that came to you in your time of need to create the feeling of "flying into a berserker rage when the heat is on". Flying into a berserker rage before dying and barely staving off death is something bruisers should be doing; not marksmen or assassins.
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Removing the armor pen makes the item less valuable to assassins. Flat armor penetration is more valuable against lower-armored targets and is therefore a high value stat among ad assassins. Flat pen for assassins is fine, just not when it's coupled with lots of mr, a fairly-low cooldown shield, lifesteal, and spell vamp.
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Having this item give less ad gives less incentive to assassins and marksmen to pick it up while keeping the magic resistance high makes the item still appealing to those who want primarily more defense with some added attack damage.
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Lifegrip is the area which should be focused on as it is what makes the item more unique and has greater potential to separate who can and should be purchasing it. Focusing on lifegrip not only creates high points and low points in game play, it creates a better balancing tool for the item as bruisers can more reliably stay alive during the period where lifegrip is active compared to an assassin or marksman who should die quite easily when caught.