I have playing Morgana since level one. I have been using the build "dominating everywhere" and to be completely honest ... I wasn't getting anywhere. Morgana's biggest problems are mana regen, cooldowns, magic pen, and ability power. All of these areas are hit in this build. So far my testing of it has doubled my kills in every game. Who can't argue with having over 500 AP on a morgana?

Greater Mark of Insight:

Why? Because all her spells are magic/AP. With magic penetration you take all that power and burrow it into your opponent.

Greater Glyph of Focus:

A great way to get your cooldowns lowered from the beginning of the game. Just be careful to not eat up your mana in early game.

Greater Seal of Replenishment:

Mana Regeneration is a must. This helps you put out more damage more often. It is real nice to have these to keep you in lane longer.

Greater Quintessence of Potency:

Mmmm... Ability power, nothing speaks like a lot of damage early game.

Well being that Morgana is not truly a carry and she relies on money and staying ahead of the other team, Utility is the best option.

With this build you get extra:
Mana
Mana Regen
Health Regen
Cooldown Reduction
Summoner Spell Cooldown Reduction
Movement Speed
Extra Gold
Extra Experience in Game
Bonus AP by using Ignite often

This covers all the things that Morgana needs to stay ahead of the pack. It is great to see a Morgana get a Quadra-kill with her ulti at level 8. Who argues with results?

The best two summoner spells to use in this build are Flash and Ignite.

Flash: Used to get out fast or flash into a fight and ulti.
Ignite: In this build with the masteries selected you gain extra AP while ignite is on cooldown. Also Ignite is a good thing to hit them with as they run to get that last bit of their health.

This build actually gives you OVER 500 AP, contrary to the numbers at the top.

Doran's Ring:

Great starter item. Morgana needs the health and AP to get things going early game. The mana regen is also a great bonus.

Archangels Staff:

Extra mana and AP based on how much mana you have. Usually built by level 10. Start with the teardrop in order to start building mana early. Finish the staff to turn that mana into raw AP.

Sorcerer's Boots:

Extra movement speed and Magic Pen to get that AP into any enemies health bar.

Rabadon's Deathcap:

140 AP plus 30% added AP based on your total AP. Who could argue with that?

Lich Bane:

Extra damage, extra AP, extra mana (adds AP through the staff you built), extra movement speed. This is a great item to help secure those kills.

Will of the Ancients:

Spell Vamp, and Extra AP. It is nice to see all that damage you are giving out healing yourself. This fixes that problem when everyone focuses you. It heals all the damage done as long as you keep giving out damage.

If you find yourself with extra money at the end of game and you can get another item sell your doran's ring in favor of an abysal scepter or morelli's evil tome. Its really up to you.

Morgana has great burst damage but she is often one of the first member of a team that is focused. Morgana is a situation based champion and you really have to know how to control her to get the most damage. She is great at getting away with her snare, boots, flash, and Lich Bane. She can also traverse the map and get into any fight with the same movement items. Her biggest con is that she is squishy early game.

Morgana and farming is simple. Use your W ability and basic attack. Done.

Great build for Morgana. Over 500 AP kills easily, but the hardest part is always staying alive. No build works for this champion unless the person playing her can play her well. However, a good build always helps. I was a novice at LoL until I started reworking people's builds. Now that I have worked this one out I don't lose much, as long as other factors don't affect my game. (lag typically) This build is definitely the way to go if you want to own the battle field.