ok this is a much better item than before , For a combination cost of 700 gold you gain 15% lifesteal (330 gold in revolver) and the active deals 50 extra physical damage in an aoe with 1/2 the slow. Is the final 370 gold worth the extra physical damage and aoe effect. With the halved slow I definitely think so.
One small consideration is what this item will do to Garen. Just a small balance issue though as this item seems to fit his want to "spin to win."
All in all this item (or an item like it) needs to exist and i like what this one gives for its cost (1825+415+700=2940 gold).
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The lack of armor penetration, niche stats, and higher cost would discourage a Garen from buying this over a Brutalizer, which is itemized much more in his favor, as well as being cheaper so he can work on his next item.