Since as Frosty noticed this thing requires a discussion thread of this own, I may as well set it up. To give everyone an equal stepping foot, I'll quote the post that started the discussion the Feedback thread. I also invite people who gave important/relevant comments in the Feedback thread to reinstate/elaborate their points here:
Life Orb
Currently, unless my ASB experience is somewhat skewed, it seems this item is vastly underused - mainly because it is kinda bad compared to its alternatives. An extra 3 BP on all attacks is good... until you realize that you're also losing 2 HP every time you attack. That alone makes this item undesireable for most trainers, and generally inferior to its alternatives, from the signature items to Expert Belt.
For this reason, I'm proposing to buff Life Orb slightly - or better said, to revise some of the (frankly excessive) nerfs we applied to this item in ASB. I'm thinking mainly to the interaction of this item with Magic Guard and Sheer Force. As most of you know, these two abilities currently don't negate Life Orb recoil. I think we should reconsider this point.
Life Orb and Magic Guard: This is perhaps the most appalling of the two cases. For those who don't know, only five FE Pokemon currently have Magic Guard: Alakazam, Sigilyph, Clefable, Reuniclus, and Krilowatt. Three of them are Psychic-type and are hit hard by Knock Off and Thief. The other two have an incredible coverage, and when using Expert Belt and hitting supereffectively, their power is only 1 BP weaker than it would be if they were using Life Orb. The idea recoil-less Life Orb would break any of these five Pokemon is questionable at best.
Life Orb and Sheer Force: This is admittenly more complex, since the list of Sheer Force Pokemon is a bit longer. Not counting legendaries, we have: Conkeldurr, Darmanitan, Druddigon, Braviary, Nidoqueen, Nidoking, Steelix, Kingler, Tauros, Feraligatr, Hariyama, Mawile, and Rampardos.
Now... Mawile hardly counts because without Mawilite it's pretty much worthless (and Everstone is superior anyway). Kingler and Tauros don't have many ways to abuse Sheer Force significantly. As for the others:
Conkeldurr: Dynamicpunch and elemental punches are the main Sheer Force moves here. Elemental Punches are gonna strike supereffectively in most cases, so Expert Belt would be pretty much equivalent. As for Dynamicpunch... its subpar accuracy makes it a bit questionable.
Darmanitan: Flare Blitz is pretty potent, I'll give you that - even if the recoil is pretty intense. Then there is Fire Punch, Rock Slide... I am a bit on the fence on this
Druddigon/Steelix/Nidoqueen/Nidoking/Hariyama/Rampardos: Most of the Sheer Force arsenal is made of coverage moves, so once again, the difference from Expert Belt is small. Even when some of these Pokemon have STAB attacks that would benefit from Sheer Force (Steelix's Iron Tail, Nidoking's Sludge Bomb), these STAB moves are generally inferior to the SE attacks when they hit the target neutrally, or have stronger alternatives in the Pokemon's arsenal (such as Gyro Ball for Steelix).
Braviary: Sky Attack is pretty much the only real concern here.
Feraligatr: Pretty much ALL of Feraligatr's attacks are boosted by Sheer Force... but I can't really see Feraligatr to be strong enough in ASB to be broken by something like this
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As you may have noticed if you read the above, a lot of my argument relies on the entire idea of "when hitting SE, Life Orb is only slightly better than Expert Belt and thus isn't broken". I can see some of you being a bit uneasy with this point, but you should also consider that the amount of ways to neutralize Life Orb is pretty large - more than you may think.
Knock Off, Thief, Covet, Trick, Switcheroo, as well as the Pick Pocket and Magician abilities, can all mess up with Life Orb. Meanwhile, Skill Swap, Entrainment and Gastro Acid can negate Sheer Force and/or Magic Guard. Now, this doesn't want to sound like a "any item goes" argument. The idea I'm trying to conveying here is that there are enough ways to take out an item to make that +1 BP kind of pointless in most situations
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Alternatively...
If you don't like the idea of making Magic Guard and/or Sheer Force Pokemon immune to LO recoil, we could consider reducing the HP recoil to 1. This would put Life Orb more on par with Expert Belt, trading the ability to hit harder with neutral hits for 1 HP of recoil each round. This could make Life Orb attractive for those Pokemon that sport powerful STAB attacks but also some important coverage moves.
Tl;dr: I propose we adopt any of the following solutions:
1) Make Magic Guard Pokemon immune to Life Orb recoil
2) Make Sheer Force Pokemon immune to Life Orb recoil
3) Make Magic Guard and Sheer Force Pokemon immune to Life Orb recoil
4) Reduce Life Orb's recoil to 1 HP per attack instead of 2