Did you forget that LD vs. FNC match already? :P

Huge buff, more useful passive and a lot more health. It's a far stronger defensive item for AD carries.

It's different. I'd say it's a bit of a buff since it gives more MR, has a nicer build path and doesn't make you buy mana, so it's good on manaless champions. The problem is that Spirit Visage is completely broken and better in just about every situation, so I doubt it'll be built much at the moment.