MR, almost totally useless
Without sitting down and doing numbers, I currently feel as though MR is only partially useful. Thinking about it RIOT is giving mages 700-800 AP in a AP build, whereas an AD character can only get to 500-600 AD on a great build. Compare this to the 200-300 armor and 100-200 MR that people can build. Without taking EVERY MR item in the game no character can slow down any fed mage let alone make it seem as though they are even trying. Keep in mind that if a character did take ALL of the MR items in the game they would be losing out on half or better of the passives that they come with, and half of the stats that they come with. There is no champ out there that needs MP5, additional healing, MR Shred, AND attack speed all at once. The only way to even slow down a built mage is to try to get a 5 man jump on him and hope someone walks out of it alive.
This is also to consider that almost all of the MPen items come with AP so not only can they stop your MR build they can get stronger while doing so. The number of Armor pen items are extremely limited and very few of them also come with bonus AD. Please leave your thoughts, and lets hope Riot does work on it at some point.
straight up ruins most assassins in a way that no armor item can do to a marksman.