If you're running Teleport Archon, you're giving up 25% bonus DPS which will cost you in running higher MP levels. And if you're not running higher MP levels, chances are you won't be taking 15%+ damage in a single hit unless your EHP is on the [very] low side.
Teleport's cooldown is also reduced by Critical Mass. If you're running both Illusionist and CM, that leaves you one spot for either Glass Cannon to make up some DPS or Galvanizing Ward if you're smashing low MP levels. I never really understood the point of running both Illusionist and CM. If you're running CM, you really don't need Illusionist. If you're only running Illusionist, what will you do if you happen to drop out of Archon while it's on cooldown?
For maximum effectiveness with Archon, you'll be stacking both high DPS and EHP. At higher EHP values, nothing will chop 15% of your life in Archon form unless you take a direct hit from Savage Beasts, molten explosions, and the like. But in those situations you'd probably want Improved Archon to kill off mobs fast before they overwhelm you. The DPS output is drastically different between Teleport and Improved.
I can see the viability of Teleport Archon on mid-high MP levels with maximum DPS and virtually no EHP for the sake of triggering Illusionist. But if you're running high MP Archon, you'll likely need CM anyway as support in case Archon falls off (you're rather screwed if you have Archon with a minute on cooldown with nothing to reduce it). Again that leaves you one passive. If you're running negligible EHP, do you go Unstable Anomaly or continue to use Glass Cannon?
So let's say you run a higher budget and you get 600K DPS. That's somewhat viable with Teleport Archon on high MP levels. Say with Force Armor you're constantly taking 35% of your life in damage and thereby triggering Illusionist. You essentially get perma-Teleport. It's certainly doable and another path to take, but I don't see its max offensive and defensive output as great as the standard Hybrid Archon build with high DPS and EHP. You'll inevitably have to kite back and forth, especially against hard-hitting elites, thereby reducing your eDPS. By building in such a way gear-wise, you're blocking yourself from other/future builds (i.e. swapping to SS sets, SNS sets, etc.) because of the incredibly low defensive stats.
go Teleport Archon and Illusionist—heck, you can go practically any type of build if you adjust your play style—but I honestly don't recommend it for effectiveness/efficiency purposes unless you just want to be a little different... like YORI.Edit:
Illusionist isn't useless, just probably not good to Archon.
Illusionist with Mirror Image or Teleport can make wizards pretty hard to kill.
My ninja wizard (currently paragon leveling as Archon) focuses on Force Armor + Mirror Image (Mocking Demise) + Teleport (Safe Passage) + Illusionist and skips Diamond Skin/Frost Nova/Critical Mass. It's a ton of fun to play and when I was at paragon 29, she was viable in MP8. I will go back to the ninja build once I get her to paragon 100 and see if I can change some gear pieces to run MP9 or 10.
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