I am thinking of trying this build: http://eu.battle.net/d3/en/forum/topic/4551608970
However, I've heard that life steal is nerfed by 80% in inferno.
Does that affect healing blades?
The effectiveness of the Life Steal affix – which restores your Life by a percentage of the damage you deal – is reduced in advanced difficulties, as shown:
Keep in mind, however, that Life on Hit items are still perfectly viable in any difficulty. It's very common for the monk and barbarian to have high LoH (1500+) just to survive Act 3/4 inferno.
Yes, all skills which provide life steal are subject to the same effectiveness reduction based on difficulty that is applied to life steal provided by items.