I know that this a somewhat old thread, but I'll leave this here in case anyone still believes that the Fetid Baghnakhs should be un-nerfed.
In 1.4, the Fetid Baghnakhs are still one of the most powerful weapons in early Hardmode, even without the best melee loadout available at its stage. Now let's consider Titanium armour. For a melee player, that is one of the best armours available, because of how effective the shards are close range, and how they knock away enemies that come near without you having to do anything. Weapons that deal damage quickly create shards faster, which means that the shards will deal more DPS if you use faster weapons. Since the Fetid Baghnakhs have such short range, you'll probably be hitting stuff with the shards if you hit stuff with the Baghnakhs. Then whips came along. Some whips increase melee speed for 3 seconds after you hit something with them, and this increased melee speed obviously affects the Baghnakhs. The Durendal is the best choice for this, because it isn't obtained that much later than the Baghnakhs are and has a bigger speed increase than the Snapthorn. If you can switch between weapons really quickly without delay, you can also use the Snapthorn, since its and the Durendal's speed increase stack. If you put it all together... you've got a strong weapon with insane damage potential and the most viable one for facetanking. It doesn't need a buff.