yes, thats what bugs me most about the game. i really would like to play another combo than unbreakable, flemish, crown, hauberk and unbreakable and early on these cheaper items, but they are just too good and give too much of a boost for all the things you need. so if i get +weapon damage i would salvage another item thats just better! so perhaps its not the hp-stacking thats too useful, its the damage and attack speed stacking that is far too expensive.
so from me dalzk. its a good idea though it must be balanced well. 1% propably istn enough later on since you get >30hp/s.