Band is not that common anymore, and if it is Banded then Volcanion will still win thanks to outspeeding it (Base 70>55) and KOing.
252+ SpA Choice Specs Volcanion Hydro Pump vs. 228 HP / 0 SpD Azumarill: 178-210 (44.7 - 52.7%) -- 24.2% chance to 2HKO
252+ SpA Choice Specs Volcanion Sludge Wave vs. 228 HP / 0 SpD Azumarill: 410-484 (103 - 121.6%) -- guaranteed OHKO
Having to go for Sludge Wave isn't a bad thing when virtually nothing that resists it wants to switch in for fear of a Steam Eruption (which has 95% accuracy btw so it's not iffy like Hydro) along with a possible burn.
Please stop using "Steam Eruption is so strong" as a counter argument for literally everything. That's all this thread has become. People just listing off damage calcs for Volcanion. Guess what, it has 130 base SA. Latios, Terrakion, Keldeo... even BS like Victini can throw around similar damage output. The only real difference is that Volcanion trades off speed for +30 BP and -5% accuracy on its Scalds. Steam Eruption is awesome, but please don't ignore Volcanion's other attributes which frankly aren't all that great.
You also are underestimating its typing. You resist Bug, Steel, Fairy, Ice, Fire, and are immune to one of the best STABs in the game (Water). That gives a shit-ton of switch-in opportunities on top of decent 80/120/90 bulk to abuse them.
And the weaknesses leave it shit right on by a number of common Pokes. This is something that could be helped if it had more speed (like Mega Pinsir or +1 DD M Gyarados) but no, it's slow and without significant investment it isn't really all that bulky.
Yeah having an SR weakness sucks but that doesn't stop Talonflame or Mega Pinsir from murdering the entire tier, and base 70 is the same as Bisharp with an equally (if not moreso) spammable move at your disposal but more opportunities to fuck would-be checks and counters.
SR weakness doesn't stop them because both of them have insane speed. Despite this they are reliant on hazard control just like Volcanion would be. Unlike Volcanion they can at least attempt to evade being revenge killed or easily checked through their enormous speed and priority moves.
Bisharp was better when Aegislash was OU but it still shits all over Defog and has enormous utility with Pursuit and Knock Off as well as priority in Sucker Punch. Due to priority it doesn't really get fucked by its low speed as often as you would expect.
You forgot to put EVs into HP; that might make a difference.
EDIT: Nvm, I'll do it myself. :P
252+ Atk Choice Band Huge Power Azumarill Play Rough vs. 252 HP / 0 Def Volcanion: 114-135 (33.1 - 39.2%) -- 100% chance to 3HKO
252+ Atk Choice Band Huge Power Azumarill Knock Off (97.5 BP) vs. 252 HP / 0 Def Volcanion: 165-195 (47.9 - 56.6%) -- 89.1% chance to 2HKO
Then after the item is knocked off...
252+ Atk Choice Band Huge Power Azumarill Knock Off vs. 252 HP / 0 Def Volcanion: 111-131 (32.2 - 38%) -- 95.9% chance to 3HKO
At max for both Knock Offs, it's going to be doing 94% total (just an approximation; crits not included). Even w/o Specs, it can still 2HKO w/ Sludge Wave AND it can outspeed, just as Karxrida said.
In Pokemon you do a thing called switching. Volcanion can switch in on Azumarill but it risks a ton of damage and is defeated by Knock Off.
As for stats, it's speed may be low, but as mentioned by numerous amounts of people, it makes up for this w/ its decent/above average bulk. Can't wall much, you say? It's not meant to be a wall, it's a wallBREAKER. 252 Speed EVS won't allow you to outrun Mamoswine, Lando-T, or Dragonite; or much else for that matter.
Uhh, no. Idk what the best speed will end up being but to say it doesn't need speed is idiotic. Here are the things you outrun with 252 Timid vs 0 Modest.
Azumarill with speed EVs.
Adamant Bisharp.
Speed tie at worst with Breloom.
Adamant Dragonite.
Adamant Gyarados.
Pre-Mega'd Modest Gardevoir. Outruns it on the turn it Megas too.
Pretty much all Gliscor.
Heatran.
Adamant Mega Heracross.
Bulky Landorus T.
Adamant Mamoswine.
Fucking Mandibuzz.
Magnezone.
Adamant Medicham pre-mega.
Mew.
Bulky Rotom W.
Mega Scizor.
Skarmory.
Mega Venusaur.
Zapdos.
Suicune.
Running 252 HP / 252 SA is a shitty spread. If you are using a "Wall breaker" you should at least be able to outrun some walls.
Some of the best mons in the metagame are weak to/hit hard by EQ; the same goes for SR, lots of things are weak to it. Look at Mega Zard X, it's slow by sweeping standards; it's easily revenged by many Scarfed mons (unless you somehow make enough plays to get the opponent's Charizard to +2).
How is a +1 base 100 slow. What scarfers even outrun it? Latios? Terrakion? Garchomp? Keldeo? Legit things to watch out for but Charizard X is not slow by any means.
My point is don't underestimate it 'til Volc's romping around OU legally.
It's true. No doubt I have not used Volcanion before nor would I be the player good enough to find any possible OU use for it. However the same goes to everyone here. Volcanion has some solid points but it is extremely one dimensional and you should all consider that fact. Know why people don't use Specs Heatran? Because despite having similar power it is slow, easily revenged, and has commonly resisted STABs. 30% burn is super rad but it is only 30%, which while it will activate a reasonable amount 70% of the time it is just a Hydro Pump. Is this enough to make up for its shortcomings? Hard to say. I think it will end up in a similar place to Victini... Absolutely usable in OU but not spectacular. Probably UU tier.