Originally Posted by Avarion
Why not grab Last Whisper instead of malady? From what I've seen, the armour penetration is applied to towers as well.
I think either Infinity Edge or Bloodthirster works for Ashe (either, when rushed, can be game breaking). Buy one, then move on to survival items. Don't forget to pack Ghost and Cleanse. I find them so useful on Ashe. =)
Just reiterating an important point. There is no reason to get defensive items early if you're not getting focused or good at avoiding damage. Just keep making damage items.
The sooner you get yourself and IE and BT the better you're going to farm and snowball over the other team.
Also, cleanse is nice considering it's on a much shorter cooldown than flash, but flash has the option of being offensive as well (ie. Going in range of a tower that's attacking your creeps, blasting a low health opponent and flashing out. You can land your ult, an autoattack, a volly, and another autoattack while taking at most 1-2 tower hits.