You should try it in pvp!
Mist Form + Dark Talons/Impulse + Bat Swarm + Mitigation. Take out whole mobs of people. Even better if you have Gap Closers.
The things in PVP that you are weak to (fire, silver bolts) either won't hit you very often when you are in a group or would also kill you if you aren't a vamp. If you focus mostly on PVP, I suggest rolling Vamp.
If you mostly do PVE, and the fire damage is too much to bear, ask yourself honestly if your real problem is the vamp weakness. Standing in red gets you dead, vamp or not. Big fireballs that hit you will still kill you, vamp or not. Harness Magicka, Mist Form still save you.
It depends on your playstyle. Yes, they are still OP. They are still ridiculous. They don't recharge ultimate before Bat Swarm runs out anymore but they are still powerful.
The things in PVP that you are weak to (fire, silver bolts) either won't hit you very often when you are in a group or would also kill you if you aren't a vamp.