This item is butts. If you take health at the stat valuation of Giant's Belt (which is 2.5 gold for 1 point of health), you're paying 330 gold for the passive. And the passive will almost certainly never save your life, since it is only 40 hp per second, and part of it will almost certainly be wasted since kills likely aren't going to be 5 seconds apart.

Compare this to Warmog's, where you only pay 150 gold for the passive which also actually does something.

They already know and it is probably going to be replaced with warmog's

except if you actually read the riot posts on other threads they're already gonna substitute this item for warmog's in a future patch now that warmogs has been changed. please do your research before posting

Not coming next patch, but...
Warmog's is coming.
Overlord's Bloodmail is being remade.
Lord Van Damm's Pillager is being remade.
Wicked Hatchet is being remade.

There's a few Dominion items that are going to be remade as well, and may make it over.

Can the new recipe involve 2 Ruby Crystals? Its one of the 3 cheap basic tier items that you can't simply 2 of and make an item. The other 2 being Null-magic mantle(though one could argue for Runic Bulwark) and Sapphire Crystal.

I love Overlord + visage on the Bear.

Go all in under a tower. Execute proceed to proc Overlord, your passive and a red pot and walk away ready to gank a lane or take an alter.