Too powerful? Yes.
Annoying when used in abundance? Yup.
I like what that other guy said... if you see an opponant just doing that over and over again and if you're not in the mood to counter it just find another opponant! There are more than enough on an FFA server...
I would like to see it's damage reduced to maybe 70-90% and maybe stun your opponant briefly. (Not long enough to abuse, but enough time to be able to avoid a counter) Don't get rid of the move, fix it!