Lulu's a very interesting champ in my opinion and I've seen people play her many different ways other than support, including AD, AP, and AS On-Hit. I even saw a guide for jungle Lulu on mobafire. xD But after trying a few methods myself she always seems to end up as an offensive support rather than any kind of carry (and a hella squishy one at that), and when played as support, she tends to be more offensive with her pokes and damage buffs and chasing ability.
Since her abilities aren't cut out for AP carrying (only 2 damage spells and not awesome scaling at that), and she doesn't really benefit from AD, the only real offensive option is AS On-Hit... but, well, the only thing she has which supports that kind of build is her passive, which isn't that big of a deal since it scales by level, not AP or AD, maxing out at 29 damage. Also by going full AS On-Hit, she loses a lot of potential with her AP-scaling abilities.
So I'ma take all those good things about her and mash 'em together and see what happens let me know what yall think!
Play Style and Theory
Imo Lulu should be more AP and AS focused since she really doesn't benefit from AD, besides the fact that she'll be basic attacking. This way she can support well or damage if needed. The way I would prioritize abilities is to support first and damage later. You're not likely going to be an all-star carry, so protect the ones you have first. The play style I have in mind is spam-happy: dealing damage and shielding allies and delightifying and enormivising and vroom vrooming... all that requires lots of mana and cdr.
For masteries I'm using either 29/0/1 or 29/1/0.
CDR, AS, armor and magic pen, lots of AP, moar damage in general... lots of good stuff for her in the offensive tree. With the items I use, the mana and mana regen isn't needed. The speed boost isn't much needed either thanks to Whimsy.
The 1 point in defense or utility is dependent on summoner spells. Heal is very nice on Lulu (especially with a 10% boost). Flash is good on everyone (15 seconds less CD, sure why not). Teleport and Ignite are nice choices as well.
For runes, well, a lot of things could work. I can't afford many atm so I'm using standard ap carry runes, but I would say... magic pen marks, mana regen seals, flat cdr or ap glyphs, and as quints.
*Archangel's Staff or Athene's Unholy Grail or Manamune
*Berserker's Greaves (or others, depending on what's needed)
*Trinity Force or Lich Bane or Frozen Mallet...
I like to get Meki's Pendant with hp pots to start, and if able upgrade it to Tear of the Goddess asap. If I need MR I'll get a Chalice of Harmony instead. Whimsying everywhere you go, poking enemies whenever you get a chance, and protecting allies when needed = tons of mana. After that I get my boots and either a Stinger (more offensive) or a Fiendish Codex (more support) for the CDR. Then, if I see I'm able to go more offensive, I get Malady. Otherwise (if getting harassed too much) I upgrade the Tear/Chalice for more AP and mana regen. Either way, Malady is awesome to get soon, as it makes both your spells and basic attacks hit harder.
Upgrading the Tear/Chalice depends on the situation. If playing defensively with a Chalice and Fiendish Codex, you can upgrade all that into a Grail and replace Nashor's Tooth with something more supporty or defensive. Or if using the Tear, upgrade that into Archangel's Staff. If playing super offensively, I'd get Nashor's Tooth first and upgrade the Tear/Chalice later (if at all). If you happen to be doing very well and perhaps the opponents are building lots of MR, you could also get Manamune early, as it'll give you more mana for basic attacking and it goes quite well with Trinity Force.
Nashor's Tooth (upgraded from Stinger) gives an offensive Lulu everything she needs, so that's awesome to get. The CDR is especially helpful. After that, I like Trinity Force. More of everything, plus on-hit slows and a nice speed boost for an otherwise slow Lulu. Alternatively Lich Bane boosts your attacks based on AP, which is much more preferable to the Trinity's AD damage proc (unless going Manamune), and it also gives MR for about 500g less, but no AS or slows. Frozen Mallet gives better slows, more health, and is the cheapest of the three, but offers nothing else. They all really depend on the situation and gold income.
Lastly I have the Bloodrazor, which is pretty self-explanatory. Great for the late game when health pools are high, and thanks to it being magic damage with Malady reducing magic resist... pew pew.
It seems that Lulu doesn't see much play and I think it's because she's good at many things with a kit offering tons of variety, but she's not awesome at any one. This is an attempt to bring all she has to offer together. Still it's mostly experimental and I'd like to hear what others think about it. ^^
If this interested you, I also found someone else's take on the same sort of idea here. Good stuff. Zeke's Herald is a nice option, especially with AD-based team mates. Don't care for the Black Cleaver or Wit's End personally, but good stuff.
© 2013 Riot Games, Inc. All rights reserved. Riot Games, League of Legends and PvP.net are trademarks, services marks, or registered trademarks of Riot Games, Inc.