Heals for shit? Nope not anymore, it does around 2.5 non crit, 3.5 crit since BoL is rolled into our heals.
With the glyph, the flash is healing for about what you're healing for with flash now on live (around 1700) so basically it's not really a reduction. If the flash crits which it should most the time, it will do around 700 every 3 seconds. I've gotten a little over a thousand every 3 seconds with avenging wrath up.
Its perfectly fine, the best holy glyph for sure. I love it.