I quite agree that Graves is overpowered, yes. However, what you need to keep in mind is that every champion has a reason for their power.
's abilities are kept weak and without much scaling, because he can stack DoT like a madman, burst you with it, has stealth and can be quite long range.
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pays the price of being immobile and slow-paced, so he can "afford" the burst he has.
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has decent scaling, but a lot of his power comes in his E. However, his disadvantage is that he needs to build tanky to profit the most from the damage reduction of his E, thus nullifying a lot of the scaling.
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sacrifices long(er) range, attack speed (in the form of his ammo) and utility for the damage and tankiness he provides.
Also, keep in mind that True Grit is meh~ish to stack, simply because at the least, it requires 4 procs of it towards enemies. Presume that he hits an enemy at lvl. 18 with his 6 pellets from a crit, that reduces his cooldown by 3 seconds. If he were to attack twice a second, his cooldown will be reduces by 6 seconds + 1 from the passing one. At rank 5, his E has a 14 second cooldown. This means that he needs to:
- Crit four times
- Hit you with all the pellets
- Hold the window for True Grit to fall off.
In this scenario, Graves can get 60 Armor and Magic Resist, which is quite the amount, yes. However, all of the above, combined with real combat, other players, summoner spells, plants, cooldowns etc. make it extremely unlikely for something like that to happen. Even if it were the case, he'd need to have 5~ish seconds to stack this all up. This may not sound like much, but keep in mind that it's either endgame or he maxed his E first (why?). Also, Graves can't do a whole lot if you're not caught out. Having a tank or Support with you makes his chance of killing you a lot harder.
Armor and Magic Resist work in a formula, roughly said to be:
100 / (100+Armor / Magic Resist) = An amount lower than 1 if Armor / Magic Resist is not negative. This formula is very important.
Graves' True Grit gives him 120 Armor and Magic Resist. Putting this in the formula gives this:
100 / (100+120) = 0.4545454545...
-> This is the amount of damage he takes: 0.45, or 45% of the 100% damage he'd normally take.
Given Graves would be at lvl. 18, and using the highest winrate build this patch:
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He would gain 0 Armor or Magic Resist from his items, nor would he gain any from Masteries. From the highest winrate Runes, he will only gain 4.02 Magic Resist.
Putting these values in the formula, with 8 stacks of True Grit, at max rank, with the items, runes and masteries from the above data, he would have a grand total of:
100 / (100+202.2 Armor) = **0.33090668431 damage from 1,or 33% of the incoming 100%.
**
100 / (100+154.02 Magic Resist) = 0.39366978978 damage from 1, or 39% of incoming 100%.
This sounds like a lot, especially for someone with his burst, but is takes a very specific scenario for this to happen.
(Fun Fact: I was a tad lazy whilst doing all the math etc, in all the calculations I did, I assumed Graves to be able to crit. However, with these items, runes and masteries, it would be impossible for him to do just that. Just assume he has 1% crit in his runes, replacing a random, unnecessary one.)
For all these calculations, I have not factored in Lethality, Armor and Magic Penetration. That is also a really important factor to keep in mind, one I won't be bothered to make calculations for.
TL:DR - Graves receives a lot of innate Armor and Magic Resist from his E. This scales up to, using highest winrate runes, masteries and items, and the perfect scenario, attaining a ~77% Physical Damage resistance and a ~71% Magic Damage resistance. This is a lot, but there is no factor of Lethality, Armor and Magic Penetration, nor is there true damage and DoT. I think this is a lot, but it requires a lot too. Every team buys some form of penetration if they are smart, and as such, a portion of this resistance is negated.
For my sources, I have to thank:
http://leagueoflegends.wikia.com/wiki/Graves (For Graves' statistics),
http://leagueoflegends.wikia.com/wiki/Armor & http://leagueoflegends.wikia.com/wiki/Magic_resistance (For respective formula's),
http://champion.gg/champion/Graves/Jungle (For Highest winrate build on Graves) and last but not least:
My trusty calculator.
Remember, it's all for the sake of Ultimate Hope!