Also a note on malady => it's really not that great unless you are actually doing mostly magic damage. Warwick's damage should be split about 70% attack damage, 30% magical damage.
Here is some maths for you.
AP compared to AD
Say you have 1000 AP.
Malady only does 100 extra damage on each auto attack.
Say you have 300 AD with crit chance near or at 100% 2.0 attacks per second with shiv and phantom dancer.
Not only are you getting the AOE hits from shiv, but you are doing (300x2.5)+(200x2.5) for the first hit.. and (300x2.5) for every hit on top of that.
So, 1250 dmg for the first hit. 750 dmg for every hit after that.
For easiness, let's make your atk speed an easy 2.0 hits per second
10 seconds = 1250 (500 aoe) + (750 x 20)
16,250 to a single target
If you get 1 blood thirster, completely maxed (20% lifesteal)
Over 10 seconds you heal
16,250x.2= 3250 health (Not counting passive lifesteal or Q lifesteal)
This build isn't counting skills at all.
So yes. AP WW is still a cheese build. Not worth it ImO