Expected to happen: Item being held in hand is visible while passing by blocks when player is looking in all angles.
What happened instead: When passing by a block in a certain angle, the hand-held item would be hidden by the block. Translucent blocks would cover only where there are opaque pixels in the block. (Not tested on Ice, does not work in Creative Mode)
Steps to reproduce:
1. Create a world in Survival Mode.
2. Stand beside a two block-high wall such that you are touching it and that you are to the left of the block.
3. Hold any block in your hand. The block would be partly or fully covered by the block next to you.