First, a disclaimer: I'm not a pro. My ELO score is pretty average, my win/loss ratio is about 50/50, and I'm only lvl 15. But since I do main with Kat (even after the nerf) and the general consensus still seems to be that she's UP after the buff to Death Lotus, I thought I'd throw in my two cents. This may take a while.
The post-buff Kat is an improvement, but the problem of Death Lotus remains. It still provides questionable damage in exchange for putting a giant "Stun Here" sign on your head. While escaping without a stun is a bit harder, 2.6 seconds still is plenty of time to run from it.
Not that it's useless. Late game I get kills with it often enough to use it, but it's still problematic that it is countered so easily.
As resident Kat expert Furor pointed out in a forum post that I can't be bothered to find, an ability that easily counter-able and dangerous to use should be rewarded with OMGWTF damage. This would put us roughly back where we were before the nerf she got smacked with a little while back.
Which is, to my mind, not a terribly desirable solution. The old Kat was almost entirely dependent on her Ulti for her damage, and (by extension) for usefulness in teamfights. Late game saw her reduced from an assassin into what amounted to a mobile gun turret. This worked great at low levels, but once you start fighting more experienced players who are more judicious with their abilities your ultimate becomes mediocre at best and suicidal at worst.
Most, if not all, of the balance tweaks for Kat have revolved around Death Lotus. This is ignoring the major problem with Kat, which is that she has no way to respond to anyone trying to counter her. If she doesn't get such capability, she should deal the aforementioned OMGWTF damage. On the other hand, if she does get stuff to help her set up or safeguard her ultra, then it should deal less damage (though still enough). The best way to do this (in my opinion) would be to tweak her other abilities a bit. Here are some suggestions.
This is a really handy ability early game for harassing with Shunpo. Provides a lot of early damage with little reprise if you're careful about it. No complaints with this ability, but I think the range should be set back to it's old and slightly longer range.
Also excellent. Provides Kat with what amounts to flash in a lane, and excellent positioning ability in a teamfight. That said, I think it should do a bit more base damage, or get the Death Lotus treatment and scale with either Attack Damage OR ability power. Obviously, the AD scaling would need to be small to prevent it being OP, but it would allow Kat to build around either some nuking power or ninja positioning with an auto attack or two to finish the job.
This rather strange ability is a great idea, but I think it's in need of some tweaks. The passive is almost entirely useless, as the extra damage isn't much more than a minion hit (not that it should be removed). However, it's effects on Shunpo and Bouncing Blade are, in my opinion, in need of a rework. So here are my ideas for alternate effects
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