Are you looking for this?
http://forum.feed-the-beast.com/index.php?threads/39717/
BM is IMO almost perfectly balanced. The only issue I have is death spam for blood, which is currently being fixed. The rewards are great but at the point where you get them you have probably spent weeks working and tinkering on a black reactor and that's after all the time both getting to the point where you can start BM and to the point where you can automate LP production. Also the whole "disproportionate" argument fits neatly with these lines
https://yourlogicalfallacyis.com/the-fallacy-fallacy and impressively also within these
http://grammar.about.com/od/fh/g/Glittering-Generality.htm.
No, I have not read those threads, so can only base my opinions off my own experience with running servers and observing players, how fast they achieve results and what happens after. A masters degree in statistics and 30 years experience with games and game design helps a bit too. Death spam for blood is a problem, both the spam and the mechanic of killing yourself over and over as a mechanic. To be perfectly balanced, a mod should be an option to game play, and in line with other mods. BM isn't, it's the way to become all powerful and beat the game. There's a reason modular powered suits and quantum armor aren't in this pack.
"balance" "overpowered" etc are terms we throw around a lot. One thing that helps any discussion is to define those terms.
Game Balance describes the mechanics by which a player moves through the game, and is going to be mostly defined at first by the design of the game creator. Later on, with a million people playing Everquest or WOW, player input could affect the ongoing game. Minecraft suffers a bit in the discussions on game balance. We have a generation of kids who grew up with games and talking about 'balance' 'power' etc., and ready to discuss/argue it, but we aren't all playing the same game. Discussion of the balance between two weapons in Skyrim can be done because we all play the same game.
With minecraft, any discussion of balance has to be confined to within each modpack. Vanilla is much easier than BNB. An item/mod that allows for easy resource gathering in vanilla doesn't have the same impact as in BNB. Who cares if you got a stack of diamonds in vanilla in two hours? In BNB getting any at all is a major accomplishment at first. B-Team has such prolific ores that I had diamond armor in about the first 15 minutes, after finding them in surface outcroppings. Since a mod has different effects in different packs, how could it ever be 'perfectly balanced' if it's effect changes the game in different ways within different modpacks?
BNB has a progression. More and more of one all the time. Balance is going to have to be mostly defined the TheEvilOne. He has made changes to things, and some mods affect other mods. We aren't really sure how things work until we get there. If Bound armor turns out to not make you essentially invulnerable, I'll be happy. If you can then walk through content trivially, the purpose of the modpack as defined by TheEvilone has been circumvented, and thus unbalanced.
I think the term 'overpowered' is used in many ways. Sometimes it means "not quite balanced", (and there's that balance word again), other times it means game breaking, or could be used in a very specific manner such as indicating that one type of fuel for producing RF is 'overpowered' because its both easy to get and very efficient.
When we could get easy charcoal and make torches, rubber trees were fine. When charcoal got harder, the easiest way to get torches was chopping rubber trees vs. regular ones. Rubber trees for torches was 'out of balance' with coal and charcoal, or 'overpowered'. Now it's getting changed and we have to work early on for torches.
If TheEvilone is worried about how we get torches, I'd sort of think that he might also have some concerns on a mod that lets you fly, create lava and water, negate hunger, shrug off damage, and do many other amazing things. The only reason we aren't talking about Witchery is because it takes longer and does less than bloodmagic
I'm looking forward to progressing through witchery and bloodmagic at some stage. I hope that they give players a better chance of beating obstacles in return for the work/fun of getting to the high end stuff in the mod. I'll be disappointed if when I'm done there's no need to struggle at all and keep going.
Of course, if the creator of the modpack says "yeah, I see everything as leading up to mastering bloodmagic and then crushing the game", then I have to shut up, as it's hard to argue balance when something is working as intended