@Meddler: What is your stance on Athene's Unholy Grail at this time?

Now that preseason is passed, and you've gotten the feedback, what are your impressions right now on Athene's Unholy Grail's state of balance?

Personally, I'm of the opinion that it is too weak for its cost. 60 AP and only 25 MR are not worthwhile when you are a squishy mage (though most would say durability is irrelevant and that positioning is more important), especially compared to Morellonomicon giving 80 AP and a better base mana regen bonus for 300 less gold. The Mana Font and mana restore on kill/assist effects also are not worthwhile if you don't have at least 1500 maximum mana for those effects to work from.

While I understand that Chalice was a game-breaker in that it made mana costs irrelevant in S4, does that mean Chalice's upgraded forms should also suffer for it? I don't think so. Grail is a costly choice to make now, and simply does not give you your money's worth unless you also took an Archangel's Staff or Rod of Ages (or both).

But this is a Gold player's opinion, which I'm sure to most means jack-sh!t. I'd like to hear what you, Meddler, have to say about it.