I will say though that it is a really interesting concept. Before I really thought about how it could easily be countered in the right (wrong?) situation, I thought to myself "Damn, that's a good idea."
Second: Everything is possible in imaginary word. Your build is horrible tho.
I don't think we should dismiss this idea so hastily.
The core idea is that all damage is reduced to 35% of your max HP, and assuming you have a very low HP pool, you can regen all of your HP every second.
Ever heard of more damage than you can handle? No effective health strat is gonna work...yes...
As we all know, a naked wiz has 1500HP at lvl60 and force armor will reduce all dmg to 35%.
So this is the trick, we don't wear any VAT increase gear, we invest all buffs from gear on Attack power.
In inferno mode a zombie will cause 18000 dmg per hit, no matter how high the dmg you take, you will survive 2 hits and lose 70% of your HP (1050 points).
The build has a crazy defensive idea and a complete lack of offensive capacity. But...
Second: Everything is possible in imaginary word. Your build is horrible tho.