I like your more accurate calculations and will use them. The only question is about CDR, Apen, MPen.

I had CDR at 40 gold per percent, but it is rather hard to calculate. Heres how I did it:

1) The kindlegem costs 850 for 500g worth of health, so 350g for 10% CDR. BUT kindlegem is not a basic item and most non-basic items have a 10-40% "bonus factor".

2) If we assume that Quints are fairly well balanced, one can see that CDR = 1.64%. An AD gives 2.25 in comparison, 3.4 for AS. Dodge gives 1.5.

If we extrapolate, this tends to indicate that CDR is valued at around 50 gold per point.

3) Masteries. We can get 1% CDR in the same tier as 1 point of AS. While not exactly balanced, we would expect 0.5 CDR instead if it was truly valued at 50 per point.

Combining all sources, I eyeball it at about 40g. Where did you get the smaller value?

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Armor Penetration and Magic Pen I got basically through looking at the Quints and their typical effect on gameplay.

* I value armor penetration at about 20 to 25. A quint gives 3.3 ArPen, vs 2.25 AD, 3.4 AS. This indicates about 25 value.

* Since you can get 2 points of ArPen for 1 mastery, this implies a lower value than 25.

* Math wise, if you have 100 AD vs a foe with 30 armor, you deal 77 damage.

If you added 30 AD (about 1200g worth) , you would deal 100 damage... or +23 dmg.

If instead you added 30 APen, you would deal 100 damage.

Vs a foe with 100 armor, the 100 AD guy does 50 damage.

Adding 50 AD would increase this to 75.

Adding 50 Apen would increase the 100AD damage to 66 damage.

Conclusion: Armor Pen is equally good as AD only when you are reducing their armor to zero. This is really hard to do though and is generally less effective than AD.

Hence, a value assigned of 20...maybe 25.

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Magic Penetration on the other hand is UBER. You can see immediately that MPen gives about 1/2 the value of Armor Pen from looking at Quints.

Furthermore since few spells have 1.0 AP ratio, AND spells have a bunch of BASE damage that gets afffected by magic penetration, MPen is WAY better than APen point for point.

Hence I value it at 45ish gold.

edit: You might bump AD a bit more. Using BFSword is a bit unfair because it is so expensive that it gets a "bonus factor" itself. Using a longsword results in over 40g per point. A pickaxe at 39ish.