I'm not playing jungle until junglers get real items that are actually useful for the cost you spend

OK so lets look at hunter machete...

+10 Bonus Gold per Large Monster Kill Passive - Jungler: Deal 30 magic damage on hit to monsters over 2 seconds and gain 7 Health and 3 Mana per second while in combat with monsters.

Machete unlike dorans can be upgraded so it doesn't become wasted gold. It generates gold. At stage 1 it completely pays for it's self at 40 large monsters. this might take a while but it does PAY FOR IT"S SELF. Now lets look at the rest of it's abilitys. It provides bonus damage to clears which means more gold faster. it also give small amount of sustain. This is at tier 1 of machete.

Now lets look at the tier 2.

+20 Bonus Gold per Large Monster Kill Passive - Chilling Smite: Smite can be cast on enemy champions, dealing reduced true damage and stealing 20% of their movement speed for 2 seconds

Passive - Jungler: Deal 45 additional magic damage to monsters over 2 seconds and gain 10 Health Regen and 5 Mana Regen per second while in combat with monsters.

I am using Stalkers blade as it is the most commonly finished tier 2 of the machete line.

at 20 bonus gold per large minion it COMPLETLY pays for it's self in.... 36 large minions. This is not even counting the money you made from the first tier.

It changes your smite into a speed steal true damage. This means jungles now have a additional ganking and damage mechanic. The bonus damage and additional sustain in the jungle allow you to farm almost forever on any decent jungle if you 1. know what your doing and 2. have proper runes and masteries.

So we have proven that first and second tier are not only cost effective but actually pay for themselves.

Now lets look at the tier three.

Total cost 1500 of upgrade for all tier three. 2250 total cost.

Warrior enchant.

Gives 45 AD 10% cooldown 10 armor pen

This is insanely efficient. This upgrade is cheaper then a bf sword. it would take 4 1/2 long swords to get just the same ad. and that would cost 1620. This doesn't even take into account the cdr and armor pen. Yeah I would say that is cost effective. 10% cdr at 400 and Armor pen at 300 per 10 flat puts us at 2320.

Juggernaut enchant

500 hp 10% cdr and tenacity

Ok so what is 500 health worth? lets look at ruby crystal it is 150 hp for 400 gold so hmm that means just the hp is 3 1/3 ruby crystals so that is 1333 in gold for the health. 10% cdr is about 400 gold so that is 1733 gold. and tenacity is .... about 500 so that is 2233. Which more then the upgrade cost. So once again it is Extremely cost effective. Not even counting the smite bonus the gold generation and the sustain. However this is the least cost effective.

Magus enchant

80 ap 20% crd

OK so 80 AP is worth 1600 and cdr is about 400 per 10% so 800. That is 2400. Magus enchant is actually the most cost effective of the enchantments. And once again this is before counting the benefits of the first and second tier machete.

Devourer

50% att spd 25 on hit

Now I will not calculate in the secondary passive of devourers as that has too much of a variance from 0-infinite.

50% attack speed is 1498.5 or basically 1500. add it 25 damage on it which is harder to figure out but is about 375. so that is 1875. Once again cost effective. This doesn't calculate the passive from devourers however if you get even 25 stacks it is 2250 once again the total cost of the full item and this doesn't take into account the gold gen or sustain form the machete tiers.

These are all extremely cost effective items. They are probably the most efficient items in the game.

Are there better items for full build? YES

Are they good items? OMG yes.

Might want to bother doing some simple math.