I can't believe the amount that has been written about this topic. Hello? There are 7 hero parties now. You can run frenzy heal sig monk and it wouldn't make a difference. And no, monks are not "in decline". To say Ritualists are needed more than monks is just brainless. Go AP Monk with 4 Discords, Panic, SoS and a VoS. You don't even need a dedicated healing class for general/ HM PvE thanks to a-net killing any challenge that was left of Guild Wars (Not much). Follow my guide and you might be near as good as me one day.
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