What is the state of Poppy?

TL;DR - Just read first and last paragraph

I have recently started playing league again, and have fairly caught up with the recent changes and updates, however I was curious (as someone who played a lot of poppy last season) how does Poppy fit in today's grand scheme of things? For about a year now I've read around the internet that poppy has been slated for a rework (low priority), but have not seen any other updates :S. I can only wonder what riot plans to do with her, would be a shame if Poppy changed in a less then fantastic way.

I love her skill set and play style to bits, her carry popping and tank bruising q Devastating blow is very unique for the fact that it has a low cd, high burst, dealt in magic damage, and scales well off ad. However her e Heroic Charge I find to be quite buggy and unreliable, but can work quite the treat for setting up intricate plays. Her w Paragon of Demacia is quite nice, however the mana cost to activate it for the MS buff is very punishing. Her ultimate is what I think makes her unique. The immunity to all but one, and bonus damage to that one opening up many possibilities with the many ways it can be used. Be it ulting the support and ignoring everyone as you charge into their carry or be it to suprise one-shot or finish off a champion using the bonus damage. I love being able to bait a gank after 6 and killing both my lane opponent and the ganker with careful use of my ult. It is a very rewarding playstyle.

Her base HP is very very low, however her passive does make up for it, would be nice if she had better innate sustain so she could function in top lane without getting bullied incredibly hard by almost every other champion. How do you think she fits in the current meta now? I find that she has a even harder time then before because the more current and common carries are much harder to catch and stick to with poppy, because there is much more possible counter play against her. I honestly think just a slight bump to her base hp regen would be more then enough to bring her back in to the game. I also think that releasing a new skin for her would be a good way to remind the player base that she still exists.

Something that has been really bugging me since I've started playing league again, how should one itemize her nowadays? With all the changes and additions since season 3 I find that item build's I had used with great success last season are now less then optimal. I am very curious how you guys would build her and why? What stat's or playstyle would you specifically target, and with which items, runes masteries etc? Also, how is she being played nowadays, or how would you play her if you wanted to play her?