Joining up on the hot Magic Stick debate started by team OK (former name TheShit!) player Dray, I'll be giving some of my view points and suggestion for the item here. First of all, sensible tweaks are always welcomed in the supposedly developing DotA world and therefore I can safely say that we'll see some changes in the item soon.
As far as my mind goes, I think of hp regen by the stick as it's defensive part while mana regen the offensive. If we want the game to get more action packed, nerfing the defensive part comes as the first thought. Dray proposes of removing the item completely from the game. But wouldn't that actually make the game imbalanced? Doesn't that mean that every healing spell forms a part of defensive mechanism and therefore, should be removed? This would also mean removing the concept of armor and spell resistance, because they basically serve similar functions. But if we think about it again, doesn't healing help pushing? Doesn't high armor promote tower diving? Everything can be seen in two different perspectives and magic stick is no exception.