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We won't know for sure until monday, but i'm fairly confident It's not going to end up being as bad as most people think. I'm sure they will change other things around to compensate, such as Bastion...
I tried vMA on the PTS. I didnt feel like the cast times would have a huge impact on the lower tier of players. In some ways shield was better in that environment. I'm sure PvP would be much different.
Still, I'd rather have the reduced shield than the cast time. Adjusting the percentages of the max shield after some analysis is preferable to having a cast time that would feel awkward with any cast time at all.