Originally Posted by WhackedRak
I agree that it was a conflicted item that was really useful for the laning phase, but the stats were damage modifiers that don't do a whole lot until you build damage. The new one was probably redesigned to pertain to this by adding the longsword and help with the early game last-hitting problem that you mentioned. I feel like they didn't consider the ramifications of changing it though. The build path is indeed bizarre and the smaller components are competing with much better options. I don't think the active is as useful as you're making it out to be when you can just take Ignite at champion select when you're against those champs you mentioned. Is Ignite's CD long enough to warrant blowing 2k gold on an item such as this?
But the relationship between AD and crit and AS and life steal is mutual and multiplying with each other. AD does more average damage per point when you have more crit, and crit does more average damage per point when you have more AD. Same with life steal and attack speed, except with life steal it's health gained per attack. The whole reason carries build all of them is that they're multiplicative, making each other more efficient compared to stacking just one. Some of the best results I got with old executioner's were from getting berserker greaves and two doran's blades before it, giving it the stats it synergizes with. The problem wasn't that the stats didn't do much, it's that the crit is unreliable for last hitting compared to flat AD.
As for the active being good? Yes. The active was up every 20 seconds and it halved all of natural health regen, health pots, normal support heal spam, and life steal in addition to all-ins when you'd normally blow an ignite. I didn't just get it against mundo/swain/voli/whatever teams, I also got it when my enemy laner had a healer support like soraka or sona or taric, or was against a champion that often gets bloodthirster first like sivir. Intending to go executioner's also freed you up to get other summoner spells, like putting exhaust on the carry and letting the support get clairvoyance or heal: I'd rather have clairvoyance's global map awareness than ignite's bit of extra all-in damage. You don't want to blow an ignite just because the enemy is using a health pot, but you could do that all day with the executioner's active.
I am making it sound better than it really was though. Not getting the BF or pickaxe you would have gotten with that 1350 gold usually wrecked your last hitting. For that reason I didn't build it much on anyone but draven, who can keep Q going all day to last hit with. And the active wasn't ^that^ amazing, because half the heal still gets through, and the enemy often backs off when using pots or about to get healed, and sometimes you're encouraged into a bad position just to clip off that pot's healing. It was also a little shorter than standard attack range. And that DoT is simply refreshed if you keep attacking, so you often weren't getting the full 36 bonus damage per hit. Not to mention that since it pretty much replaces the bloodthirster, you end up with 100 less AD and 2% life steal in that slot late game in exchange for 15% crit and half the price.
I do like that the new one keeps your last hitting just fine when you build it. The new one's problem is that it's really stat inefficient AND doesn't build into anything. I would probably feel a lot better about the new one if it built into something end game. I would love another AD/crit item on draven other than infinity edge.