Want to hear my opinion?
I think you guys limited the scope of the item a tad too much.
The biggest issue is that this item is a complete waste of space if you are fighting anything less than 2 champions at the same time, and even in a team fight it doesn't mean you will always be making use of those extra procs.
The idea is technically great on paper(double my overall damage AND apply a limited range of on-hits? Sweet!), but the problem is that there are far too many cases where the item isn't getting it's gold's worth.
There are two ways to tackling this item. 1) give it something more for those moments where you aren't hitting more than one champions and 2) increase the range of champions who can use this or 3) make it less risky.
So far I have three solutions...
1. Let this item work with "on next attack" abilities like Sivir's
Ricochet, Draven's
Spinning Axe, Sheen
, Lulu's
Passive, Twitch's
Ratatatatat, etc.
Now, does this sound a little OP? Maybe. But you'll never know till you try is what I always say. But look at how many champions this is a noob trap on. You would THINK it'd be cool on Jinx, but nope, sucks, hella fun! But I got called a "fucking troll cunt" in the past for it, and I had people troll me intentionally because of the assumption that I was trolling for building this item. So ergo, no go on Jinx. And remember, those bolts are WEAKER than your normal AA, so those extra ricochet attacks on Sivir isn't nearly as brutal as you'd think, and said Sivir already sacrificed a much stronger item in favour for this anyways. So imo, it's really not nearly as OP as you'd think.
2. As for solving the other issue. How about give Runaan's some sort of innate stat that decreases the more bolts you fire out?
3. champions who uses Runaan's tends to want to stay within a relatively dangerous range if they want to truly maximize the bolts, therefore make it provide survivability instead of or along with AS?. Make it so that a Varus player could justify risking himself to apply his W to multiple targets.
So? How does solutions 1, 2, and 3 sound? Any possible issue? 1 is a little risky, but you can not deny how fun it will be right? Wouldn't you want to see Pix get off his lazy arse and fire 3x his bolts?