Thus far, it looks like the new vampire skill line is only useful if you want to essentially play vampire-as-a-class (rather than as a magsorc, magblade, etc.), or for role play purposes. Since, I'm not interested in either I am planning to cure all of my characters of vampirism. Very disappointing, but that is ESO/ZOS for you...
It's dumb to be a vampire just for recovery, it should be played as a class/sub-class.
The lack of a gapcloser since the skill line's main dmg ability is melee, lack of creativity with the ultimate, and overwhelming stage negatives (new negatives would be fine if they kept the old 40% vampiric skill cost reduction, not too sure why they nerfed that too...), and the absolute butchering of the vampiric drain.
For all of these reasons, I dislike the rework and see it as over all 'mixed' to 'negative'.
Old vampire needed a rework, that is for sure. But by god I was hoping it wouldn't end up like this.
Now the only hope for people who want to play as a proper vampire is to wait for when they eventually add in more bloodlines, as I doubt vampire as it stands will ever be touched up again.
That, dear friends, is why this rework was VERY important. It most likely will not be touched to this extent ever again in the game's entire existence. So consider that before going 'well, I mean, I guess they did a good job, sure I'll give it a pass'. Consider all sides to the argument as to why the rework is trash.
The lack of creativity with the ultimate and the abilities in general (aside from mesmerize, you get a pass) screams that they probably don't have too many people working on this game.