I'll let the recipe as it is, 4 sticky redstone for 1 redstone and 1 slimeball.
It works like a microblock circuit, 1 piece of sticky redstone covers 1/4 of the block, you need to place it in the direction you want the redstone signal to be transmitted.
Its not like vanilla redstone where you can place one on one block and done, it will adapt, nor like RP redstone cables. Its a forced direction and it won't shift for another if it finds a block able to interact with redstone.
Nerfing it so that it only yields 1 piece makes it too expensive to be of any practical use.
But if you want to nerf it badly, I'd recommend 2 sticky redstone for 1 slimeball and 1 redstone dust, because you need at least 2 of them to make a straight line on a single block.
And as a side note, it's a really weak replacement because of the lack of logic gates (only the vanilla repeater and comparator are available) and it behaves like regular redstone regarding "redstone power" but its better than nothing.
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I agree with SpwnX concerning Spice of Life, Hunger Overhaul and Pam's Harvestcraft.
No natural regeneration is interesting but not in the long run, especially on a tech server when you spend like 80% of your time in your base.
What's interesting with theses 3 mods, however, is :
1- You need to craft complex foods to get the hunger replenishment of your average steak (Hunger Overhaul + HarvestCraft).
2- Since there's some kind of diminishing returns on food, you can't make the same thing and be done with it. (Spice of Life)
3- Health regeneration from food is configurable and can be nerfed without being disabled, 5-10% being what I recommend. (Hunger Overhaul)
4- Health regen is weaker the less health points you have (Hunger Overhaul)
5- Debuffs when low on hunger and health. (Hunger Overhaul)
and so on.