Fair points, I would like to address a few of them.
**Early game] Counting the time it takes to walk to lane plus the death timer, that is a considerable amount of time you could save your carry if you pulled off a revive. This does mean that where your ally died is important and as people get used to the spell, that will just become natural. So you could say this item, could improve your gold income if you fell behind by a well-timed revive. So as far as the claim unusable goes, that is really decided by how aggressive the player you are attempting to revive was, in dying either a bad position or good position.
Late game] I think as the game progresses given how long timers can be this without question is considerable power especially if you can revive an ally that can shove a lane fast. Great times for this would be, for example right after a teamfight in which most champions in the game died, and so on.
Balancing the Shop Mechanic] If implemented, the balancing would also have to take into account whether or not purchased items can be then acquired after an example like: dying, purchasing Infinity Edge, reviving in lane. If this is allowed I feel some caution in allowing the item changes in this situation, I would rather it reverts to what you had when you died in the previous fight. Reverting the gold spent to your champion.
