On
, I usually get both
and
. He needs tons of mana to keep up with his costs;
and other mana regeneration items simply can't keep up with his E in the late game, plus CDR isn't very good on him (it's a noob trap for lowering his ultimate's cooldown; his Q and E hardly scale with CDR at all).
It is possible to get by with either one (I'd suggest Seraph's for more mana and damage, plus the shield... But you'll be missing out on more damage and E time by not buying supplementary mana), but they synergize extremely well.
You are correct in saying that it takes a lot of time to charge both RoA and Seraph's, but they give Karthus some extremely valuable tools and almost unparalleled DPS when combined with pure-damage AP items (
,
,
). He needs a strong foundation to make up for his squishiness and his mana-hungry E, and RoA+Seraph's don't hold him back (they provide damage, health, and mana). In Karthy's early game, you can rely on your Q's single target proccing for all the damage you need while you complete your
and RoA.
Many people will tell you to replace Rod of Ages with
. Personally, I get both. My favorite Karthus build is
(for CC reduction and a little MR),
(tons of base stats, Catalyst passive for lane safety, and mana synergy with Seraph's),
(max mana, plenty of damage, and a little extra survivability from the shield),
(tons of health and damage, synergy with your Q's single target procs),
(magic penetration, more health and damage, synergy with Rylai's and your Q's single target proccing), and one of the 120 AP items or Void Staff (depending on whether the enemy team is a significant threat to my life, has a lot of AD, and/or has a lot of MR).
It's a tankier build than your typical tons-of-AP Karthus, but living longer means more Qs and more E ticks, and Liandry's+Rylai's ensure that even the tankiest of targets doesn't want to sit in your E.