The TL;DR basic conclusion so far is that "It's situational."

• Flat HP is the best for all-ins but falls off really hard late-game.

• Flat Armor is the most efficient laning Seal vs. Physical, and doesn't fall off very hard.

• Armor/HP per level depend on what you think you'll value late, and are (unsurprisingly) weak early game.

Because I love math, I started a little spreadsheet. Right now, I assume 9 points in Defense for the bonus HP. I also assume standard Doran's starting buys (Blade 1, Ring 2).

For level 18 stats, I also assume a Banshee's Veil on all champions. I assume a Zhonya's for casters, and Sunfire Randuin's for tanky bros. For junglers, I'm not including anything. I've only done AD Carries and a few other champions so far.

Keep in mind that the calculations for Armor buffs are ONLY for physical damage. They could be 0% effective.

If you want to take a look, the spreadsheet is right here: https://docs.google.com/spreadsheet/ccc?key=0AiOatsWt31CSdEE4S09xUjF5TFZCRUN1SjROS2ZCdnc&usp=sharing

Other notes for the future: I can probably start doing assumptions like cutting armor by ~39% to assume Last Whisper and Masteries to see how that shapes things up. But this should be reasonably accurate for now.

Edits: 2 potions with a Doran's Ring. Whoops!

(Original post by /u/PhreakRiot here)