I don't like the fact that you can only place a certain number of wards at a time. I understand they don't want people to be able to spam wards for free but I see it as more of a hindrance than a help. As someone who mains support and tries to buy about 4 or 5 wards every time that I go back in order to allow for optimal vision of the map, this item just doesn't cut it.
It takes up a whole slot for just two (or three with the upgraded item) wards (in the sense that you can only have two or three up at one time). Whereas buying regular wards allows me to have up to five in one slot. If I decide that I want more than two wards up at once I need to use up another slot in order to have more wards that can be placed at one time. I like the idea that it will save me money but it takes up room in my inventory in an inefficient way.
So, I either don't buy the item and then I don't get the benefit of saving money, which was the idea behind the item in the first place. Or, I just buy the item and don't buy any other wards, which does not allow for the kind of vision of the map that I desire. Or, I can use up two slots in my inventory strictly for warding and miss out on other important items and their stats.
My suggestion would be that you should be allowed to place ALL of the wards that this item gives you at once. When you go back and your stacks refill, if you place a new ward while you still have four on the map, then the one that you placed first will disappear. The item could either be made more expensive or after you buy the item you could still need to buy wards but they could be purchased at a reduced price.
Either way, for someone who loves to ward the entire map as much as possible, this item just does not cut it. I appreciate the thought behind it, but I don't see it doing what it was made for in an efficient manner.