Lol you're such a dick. EP is still a bad item and no one decent will ever pick it when they're behind. Theory craft all you want, but it's not picked for a reason.
Learn to discuss (read: not argue and be bitter) like an adult. So much ego in your head.
Theory crafting is the reason most things are found to either be too stronk or too weak. Looking at old helm as an example. You can see it as +6 Regen, +300 HP and 70% chance to block 40. You could say, Heart gives you more!
But looking at the numbers, the HP gained back throughout the fight, the blocking and the raw HP points, you can see it actually overshadows Heart in terms of HP/Gold.
Back to EP. I linked a nice piece of non anecdotal evidence which shows the items actual DPS and what it can do. The item is far from bad. Much like Charged Hammer it actually outputs a lot of damage for what you pay. EP Just doesn't grant you any health or anything to keep you alive, and dare I say, thats what balances it. You need to combine it with another item to maximize its usefulness.
100 Attack speed (a bit less than 2 Warpclefts 4200 gold) for 1900. I'd say its not atrocious in the right context. The item has a place in the game, as to where though, that needs to be found out.
The sign of lost Carcosa appeared in the air, paralyzing us with dread older than the very idea of time.
As we looked on in horror, the unholy sign dissolved into a lone figure, shrouded in yellow.