This build would probably be useful against bosses, or in Hell or Inferno, where it takes a little more time to kill each mob.
Here's the breakdown. Cast Breath of Heaven for the 20% damage bonus from Obsidian (and to heal from previous/current encounters as well,) then cast Mantra of Conviction. As soon as you do, use SSS (the Crimson rune is there for teleportation, to get the full extent of the 3 second double damage of the Mantra.) Then use Dashing Strike for the dodge bonus.
Use WotHF twice (rune activates on second strike for increased damage,) then finish with Deadly Reach. Keep that rotation going to stack the crimson rune damage debuff from the third strike in Deadly Reach.
If the extra healing from Transcendence isn't enough, switch the crimson rune in the Mantra out with the golden one. If needed, Breath of Heaven can be switched out with a golden/obsidian Inner Sanctuary.
Pros? Cons? How does it compare to the Exploding Palm builds for the later difficulties?