My AP Itemization Overhaul (Personal Concept)
Existing Items
Rabadon's Deathcap
AP increased from 120 to 125
Bonus AP reduced from 40% to 35%
"The entire array of AP item changes will result in an overall higher amount of Ability Power in the system, therefore Rabadon's Deathcap will resume its previous purpose as a finishing touch (the cherry on top) for the majority of AP builds
Spellbinder
AP increased from 120 to 125
Maximum Passive Stacks reduced from 100 to 50
Maximum bonus AP from stacks reduced from 80 to 75
Maximum MS from stacks unchanged (50%)
"This will open up Spellbinder to a lot more champions. The amount of stacks required has been halved, which will allow more uptime, especially in teamfights and skirmishes, which is where we want Spellbinder to really shine."
Void Staff
AP increased from 70 to 80
Percent Penetration reduced from 40% to 35%
"A larger variety of magical penetration items will be introduced, therefore we thought it'd be appropriate to turn down the overall strength of this universally purchased item. AP was increased to compensate for the 5% penetration that was shaved off."
Rylai's Crystal Scepter
AP increased from 90 to 100
300 mana added
Cost increased from 2600 to 2750
"Many mages were hesitant to purchase this item due to its overall niche purpose. To counteract this niche purpose, we've opted to broaden Rylai's pool of champions that can use this item. By adding mana to its stats, this allows champions to pick this up without feeling as heavily skewered due to lack of mana management."
Archangel's Staff
AP increased from 50 to 75
Mana reduced from 650 to 500
Maximum mana reduced from 1400 to 1000
Percent of mana to AP increased from 1% to 2.5% (Seraph's Embrace reduced to 2.5% from 3%)
"Current Archangel's has an issue of being good on certain champions and awful on the remainder of the champion pool. To negate this issue, we've decided to shave off the strikingly large mana pool it could provide, but compensate with a bit of early umph. It still won't be as strong early game as other items of similar cost, but will transition into mid/late game more smoothly."
Luden's Echo
AP increased from 90 to 100
Mana reduced from 600 to 500
10% Movement speed added
Passive charge is only granted by moving and LANDING damaging spells
Passive base damage adjusted to 50 - 125 (based on level)
Proccing Echo on enemy champions now grants the caster 5% of their missing mana
"These changes will solidify Luden's Echo as the poke item. Many mages are still dealing with the mana changes a few patches ago, but consistently landing abilities will not only allow you to deal increased burst damage, but also restore portions of mana you spend."
Hextech GLP-800
Removed from the CDR Haste trio
300 health added
AP reduced from 80 to 60
Passive: Haste removed
Slow duration increased to 3 seconds from 2
Cost reduced from 2800 to 2500
"We realized no one asked for this item. It's not very popular except for a handful of champions, and those champions only want it for its active. So we're buffing the active and adding inherent tankiness to the item."
Zhonya's Hourglass
AP increased from 75 to 80
CDR remove
300 mana added
Cost reduced from 2900 to 2800
"Zhonya's has repeatedly been nerfed and we apologize for that. We have also realized that mage's, despite being oppressed by 1-shotting assassins, may not wish to rush a low AP, manaless item. So we're upping the AP that Hourglass provides and adding mana to it. This will hopefully make it feel a little less dreadful as an early game item. We also removed the CDR from this item because we already have enough CDR..."
Banshee's Veil
AP increased from 75 to 80
"Simply for consistency."
New Items
Magus's Regalia +80 Ability Power +45 Armor +15 Magic Penetration
Unique Passive - Arcanium Synthesis: 15% of physical damage taken from enemy champions is converted to grey health. 15% of magic damage dealt to enemy champions converts that grey health into actual health. Grey Health decays rapidly upon exiting combat.
Builds From:

Total Cost: 2900 (300)
"Magus's Regalia is a new item that promotes skirmishing between assassins and mages, rather than just assassins blatantly one shotting mages or vice versa. This item will allow mages to properly trade against pesky Zed's. In team fights, this will promote an active playstyle for mages: in order to keep themselves healthy, they must actively deal damage."
Pox Arcana +100 Ability Power +10% CDR +500 Mana
Unique Passive - Haste: +10% CDR Unique Passive - Pox Bearer: magic damage applied to enemy champions applies stacks of Pox. Pox may stack up to five times. Stacks last ten seconds and this duration refreshes whenever a new stack is applied. Unique Active - Harvest: harvest all stacks of Pox, dealing 25 (+5% AP) magic damage per stack. Additionally, activating Harvest will grant the caster 3% of their missing mana per stack harvested. Cooldown: 60 seconds
Builds From:
Total Cost: 3200 (950)
"Many of you may already recall seeing this item once before. It's making a return and will fill a nice fit for DoT mages and even mages with poking playstyles. Damage-over-time mages can easily apply and maintain stacks of Pox, and by using Harvest, their enemies will be taking amplified damage from them. The ten second period allows ample time to set up a Brand or Cassiopeia's all in while rewarding their mana management for doing so. This will also replaced Hextech GLP-800's position in the Haste trio."
Netherstride Shroud +100 Ability Power +10% Cooldown Reduction +5% Movement Speed
Unique Passive - Stride: Gain 15% additional movement speed for two seconds after damaging an enemy champion with an ability.
"Netherstride Shroud aims to feel a niche for those mages that like to dance on the edge of a fight or just need the additional umph of mobility, such as Lissandra. It also promotes a kiting playstyle, which benefits champions like Aurelion Sol.
Builds From:
Total Cost: 2900
Rite of Ruin +80 Ability Power +300 Health +15 Penetration
Unique Active - Foresee Destruction: mark an enemy for three seconds. After the three second duration ends, 15% of the magic damage the enemy took while marked from the caster will be dealt to them again as additional magic damage. Cooldown: 90 seconds
Builds from:
Total cost: 3000 (650)
"This promotes burst mages, such as Lux, Syndra, and Ahri. Yet it still promotes a sense of counterplay. Any sort of shields, heals, or damage mitigating effects can counter act this since it has a clear window for when the damage applies. It is reliable and is Deathfire's Grasp great grandaughter."
I may post a lengthy discussion below later, but I spent a LONG time on these and I'm kind of drained.
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is a champion who semi-relys on deathcap because its the missing link that turns her passive into a free Warmogs. Likewise
gets insane mileage out of it due to his own passive. to a smaller degree 
as well relys on it as it boost their passives dramatically when picked up.On
Deathcap can be the vital difference between a 70% chunk and a outright oneshot from her R.
is a meme item truth be told and the actual best reason to ever pick it up is that its one of the last few 20% CDR items meaning you can cap CDR with only 2 items.