Here’s a quick search on the small portion of the threads already written about this. Just to touch up on some of the points and my two cents: Ward itself is fine but there are a few broken iterations of it like HH and Profane Veil. (PV’s bug has been fixed.)
A mastery that would be screwed if LL gear was nerfed without anything else being done would be Necromancer as that mastery, aside from minion tanking, has very little in terms of defensive layers.