Ok, I checked the Blood's effect on a character with 5 or less Vitality and Intelligence!

Using it will actually reduce those stats to 0. I checked with Vit 1 and Int 3, so basically, if the Blood would cause the stat to hit 0 or below, it's set to 0.

0 Vitality gives no bonus HP at all.
0 Intelligence doesn't give the 0.55 Magic Resist you'd expect at 1 Int, nor the 1% Indomitable Will, or 0.01% Mana Regeneration.

Seems like those stats at 0 are dead, for all intents and purposes. They can still be raised, however. So I guess for people who want to twink their character to the max, they would want to keep Intelligence and Vitality at 1 until then...

That'd be rough to do through all of ED.