I have enough sustain that I can survive even on GR 90+, and I have enough damage output similar to the wastes set+Istvan's. My build above does not have mantle of the channeling, but given that I can get WotB up 98-99% of the time without the Bulkathos passive, I have Berserker rage and Brawler passives added instead.
I want to prove a point that the devs did not really buff the barbs last season with the wastes set changes, and only tricked us into believing so. If the IK set indeed performs the same with the Wastes set, then it would be equivalent to WDs having Helltooth at 2400% and Arachyr at 2400% which would not make any sense at all. I want to prove, with good examples, how Wastes needs a buff.
I have gone as far as augmenting the IK set + Istvan's, and comparing it to my augmented wastes + Istvan's in the live server, I don't see any difference at all.
I've tried a similar build before and here are a few problems I encountered:
1. Sustain. WW with wastes survive because of the attack speed increase from BK swords/Istvan's Swords plus Blood Funnel rune for LoH. You will find that you will easily die even in T10 because you do not have any means of recovering life. You can add some Life on Hit stats to survive T10, and its a fun build when you can survive, but this will be the primary issue once you go even 1 torment higher.
2. Attack speed. You'll have less attack speed compared to Wastes set because you cannot use the set swords which increase your attack speed by 30%.
3. Damage. I thought that 1300% damage increase from LoN would make the lightning damage from Odyn's son/Fulminator/Sky Splitter/Thunderfury/Schafer's Hammer significant, but I learned it the hard way. The base damage increase from the set is simply not enough.
If you can get it to work, a fun build, non-the-less.