I don't know if this is allowed, but I would like to post two sets.
First the creative set. nvm
Now the one that is down to earth, but I have much more experience with (also one of my favorite Zams):
Taunt+Life Orb Zam
Alakazam (M) @ Life Orb
Trait: Magic Guard
EVs: 252 SAtk / 4 SDef / 252 Spd
Timid Nature (+Spd, -Atk)
- Psychic
- Shadow Ball
- Focus Blast
- Taunt
Life Orb attacking Alakazam with Taunt is a stall team's nightmare without a Sp. Def Jirachi. Many stall teams rely upon either Blissey or Chansey to stop Alakazam. However, Blissey and Chansey have the crippling flaw of needing to heavily rely on Softboiled to stave off Alakazam. Pack this baby with Sand and hazards, and you can be assured that both Chansey and Blissey will die a frustrated and slow death. What is great about Zam is that stall teams can't outlast him with hazards down if Zam can prevent their recovery while staving off their main form of damage against him. That fiendishly high speed too means that he will not be able to be Taunted himself and , more importantly, prevent defensive Starmie's from spinning the hazards that Alakzam can abuse to get KO's.
If you really need to, Taunt Alakazam can also act as a check to many offensive leads. While not having Focus Sash mitigates his chance against priority, Zam still remains a troubling Pokemon to offensive teams with that high speed. Basically, Taunt opens up Zam's ability against defensive teams and allows him to have a little extra utility against offensive teams, which he was already great against.