[_Zenith_]

The new item is actually REALLY good. I tried it with a nocturne and I could chunk people off simply. Here's a list of what I think the perks are for the new item: The Maw.
~Pros
Nice bit of AD, not amazing but not terrible either.
Magic Resist, for dem Veigar's and Leblancs....
SpellShield when @ low life and depending on how much your maximum life is.
1 AD Per HP Missing, now this is sweet. A Berserk effect is just what this item needed, with the addition of the shield, You can build tanky and still pack a punch.
~Cons
No viable stats for a bruiser, what this means is that you can hit hard, but you don't have Life steal, Attack speed, or Critical Chance in alliance with the "berserk" effect.
Dat "Magic Resist", is not so bad, but not good really. 30-40 MR is about 10-50 damage taken off each spell.

Champs I can see this on with is:
Sivir
Nocturne
Garen
Volibear
Riven
and more (but you get the gist)