It really depends on how much armor they have and how much damage you are taking. It also depends on the champion you are talking about. Kog and Vayne? I think I would take the blade regardless of anything else (on hit damage for kog W and attack speed/life steal + silverbolts).
Speaking generally though, I would have to sit down to really do the math, but I don't think its worth getting a last whisper item if your opponents have less than 200 armor. This is because last whisper only ignores bonus armor, and most champions reach around 90 armor through levels (aka not bonus armor) by level 18. Dominks might be a little different, however, because a 15% increase in damage because of health differences might make up for (or exceed) the damage bork would be providing.
Domink's doesn't provide any sustain but does provide a consistent increase in damage since it does increased damage based off of max health differences. Blade, by contrast, has sustain, but deals % current damage (okay, it has the active that is max health damage but still) which means as you wear your opponent down it becomes less and less relevant. So it sorta depends on a lot of factors.
If you are talking about rushing one of these items, the answer hands down is bork. The attack speed and sustain it provides is reason enough, but unless the opponent is rushing armor, the lw won't do you much good, and early levels there isn't much of a max health difference so you aren't even getting any use out of that.