I'll put my idea's here since we're on the topic of onhit itemization (might as well fix Gunblade while we're here too).
Builds from:
Cost: 3400 Stats: 40 AD, 45AP, 25% AS. Passive: Basic attacks deal 15 onhit magic damage. Basic attacks grant 6% attack speed, 3 AD, and 3 AP for 5 seconds (Stacks up to 6 times) (Melee champions gain 2 stacks per hit). While you have 6 stacks, gain Guinsoo's Rage. Guinsoo's Rage: Phantom hit occurs every other hit.
Build path: the same Cost: 3000 gold. Stats: the same. Passive: Buffed to 7% on hit current health damage. Activate: Changed to deals 10% of the target's maximum health as physical damage and slows them by 40% for 2 seconds.
Builds from:
Cost: 2700. Stats: 50% attack speed, 10% CDR, 42 MR. Passive: Deal 3% current health magic damage on hit and heal for the same amount.
Build: same Cost: down to 3200 because unreasonable nerfs. Stats: +5 AD. Passive: 15% omnivamp, 33% effectiveness for AoE abilities. Passive: deals 175 magic damage (+30% AP) and slows the target by 40% for 2 seconds. Basic attacks on champions, turrets, and epic monsters lower the cooldown of this item by 1 second. (40 Second Cooldown, Hextech thing.)
Basically I just fixed Rageblade's stats up a bit while making it a decent buy on melees. Fixed losing stats and still kept Phantom Hit because Riot wants that so I'm being realistic with this idea. BoRK gets it's active toned down so the rest of the item can have decent gold cost and passive damage. Might need like +5% AS buff. Wit's End was the real kicker. The idea of stealing MR is obsure for nearly all champions so I changed the item to steal health. Making it appealing for more champions like Jax, Aatrox, Shyvana, Fiora, Irelia. Numbers on Wit's End may need changing. Gunblade, I just fixed the active mostly. You know, give the reset back to the people. (Oh and I also gave Wit's End a stat with 42 again.)