User blog comment:StrategicMagic/Vayne - Carry? Yes. AD? No./@comment-128.230.95.223-20120819213755

"
 * 1) Stacking HP counters true damage because it reduces the overall % of health dealt to you by said true damage skill. (This is under the assumption people make about true damage being flat. Think Cho, Darius.)"

Uh... this is just wrong. Silver Bolts deals true damage equal to a % of your target's maximum health. So stacking health is in no way a counter to this, you're just giving her a bigger true damage bonus, effectively making you less tanky. Armor and health is still the best way to counter Vayne, like any AD carry.

Having said that, your rune choice is pretty much awful. Ignoring that, this isn't exactly a bad way to play vayne, just not nearly as effective. Phantom Dancer and Madred's Bloodrazer are both very expensive items, and Bloodrazer is comparable to IE, so you're not really helping yourself on farm there. On top of that, Bloodrazer is only really effective if your opponents are health stacking, with no significant magic resist... which they shouldn't be doing unless they're idiots because they're playing against vayne. All of your other items are decent midgame items that rapidly become obsolete towards the encroaching endgame, where even you yourself said vayne is at her strongest.

Ultimately, your build is just as expensive to reach its core as the typical AD carry build, but overall less effective. A cookie cutter AD carry vayne playing against a Vayne using this build will straight up destroy it in DPS, given all things equal. There's a reason not a lot of people build her this way; its just not as efficient. Sorry to rain on your parade.