It's a shame it's schooltime now, but really, since the moment i heard Alakazam even got Magic Guard i wanted it released. I didn't expect it to happen so soon though xD. Also, thought Spooky Manor would remain exclusive for Japan, but luckily... We can't really say yet if Ala will reach just UU or OU, although OU wouldn't surprise me at all. Magic Guard was the push in the right direction Alakazam needed this gen, and with Magic Guard it can switch safely from the hazards/come in on a crippling move (apart from paralyze, ala doesn't like that) and he can SWEEP. Seriously, guys like Conkeldurr and Breloom aren't that safe anymore... Reuniclus ruins with base 120, so what potential does Ala have with base 135?! Can't wait, just can't wait for the weekend and have time to start playing around with this monster.
Anyway, a set with will work for OU...
Alakazam@Life Orb
Magic Guard
Timid, 4 Def/252 Sp.Atk/252 Spe
-Calm Mind/Substitute
-Psychic/Psyshock
-Shadow Ball
-Focus Blast/HP Fighting
No Life Orb recoil FTW! this 'ere set will wreck OU. Can't be different than that, Ala's stats are just too good, especially with the Life Orb recoil-free boost. Timid seems like the preferable nature, even though it outspeeds that much already...
Calm Mind or Sub is the 'setup' move of choice, Phychic/Psyshock is STAB, Shadow Ball because it's badass and good, and the preferred Fighting-type move of choice: Power or Reliability.
Because this is a 'OU' set, it should cover OU threats, so Focus Blast could be preferable over HP Fighting, to make place for a HP instead of Shadow Ball; Stuff like HP Fire and HP Ice are things which are essential in OU (Scizor, Forretress, Ferrothorn, Latis, Salamence, D-nite etc etc).
Really, the moment I saw this on Serebii i was THIS excited. Bring it on, Ala!