"It's a slow down, but it feels more like something is slowly pulling my reticle".
So which is it, a slowdown or a pulling of the reticle? If it's a slowdown, I don't personally have a problem with that. However, if it's pulling your reticle to be on-target, then I do have a problem because that (IMO) turns aim assist into an aim-bot. You could literally leave your thumb off of the controller stick in a choke point and annihilate enemy coming through that choke point....whether you are close or far from the action.
The real problem is that you'd only have to watch for your reticle start to move and then just start firing. This is unfair to players without this ability (ie; MNK).