New AP items experiment on my Nami
My average Nami build =
= 646 AP
So let's see what the new item changes do to it:
loses 30 base AP, but gains 20% CDR (10% unique named)
Becomes a Morello Cursed Tome = HP instead of Mana, Loss of CDR, loses 20 AP, but gains perma Grievous Wounds, Armor pen.
So...... my 646 AP build loses 50 Base AP, 400 Mana or 12 more AP. That means the new balance is 584 AP.
That's still a robust build, especially since it can apply grievous wounds vs champs who notoriously have high HP sustain like

But..... let's see if I can make some other build work.....
- Twin Shadows is back.
- Death Cap is going to be 140% AP
Since Nami's not really a no CDR item champ, these might be viable:
Let's try:
Twin Shadows, Death Cap, 
That's still about 600 AP. I dunno. More move speed items....
Might be a smart idea to instead of going more AP, go more move speed.
Spellbound Orb, Twin shadows, 
Would only cap out CDR if it had Transcendence still, but no AP bonus from Transcendence unless boots of Lucidity.
That's 24% increased move speed on top of Nami's passive though, and 300 reliable AP. Pretty hard to catch at ~98 passive move speed bonus boosted by the move speed+ boots,
I think I'm gonna need to do some theory crafting here..... Hard to get where I want to be.
Might actually be better sources of AP than AP items with the new CDR caps being 10% per AP item with 1 AP item having another 10%.
Btw...... that leads to the question again..... why isn't the same being applied to
stacking 20% CDR each in 2 items? Shouldn't they be released a 10% Unique 10% standard CDR too?
.