So the guys at Riot have finally decided to put out a badass tanky dps that also happens to be ranged. Really, Graves has got absolutely everything going for him at the moment, and I'm writing this guide now just because he's quickly become my favorite hero to play. A dash with an AS boost that lets you hop over thin walls, crazy early game burst, great ability to take some dmg, and an aoe slow/map blind, really he's wayy too good at the moment for a ranged hero, and is a quick ban in most ranked games at mid elo.
I hope this guide helps new players who'll be trying him out in the weeks to come!

(PICTURES AND AN UPDATE TO COME SOON! :D)

Marks: Ar Pen marks, he's got amazing early game burst so flat damage runes are also an extremely viable option. I just like the ar pen since i dont build ar pen items, unless the other team is stacking armor

Seals: Dodge seals increase your effective hp by more than just taking flat armor, apart from that, with the mastery it gives you a nice movement speed boost if you need to get away quickly when focused.

Glyphs: MR/lvl late game ap users suck :P you get blasted down and these + your awesome hp will help you most when it counts

Quints: You have an option really, I like the flat dmg quints just to balance out the early game potential, but if you want more survivability its viable to go with flat health or even dodge or move speed quints.

I start with boots + Hp pot x3 if going mid, if I have a support that i trust to lane with I'll get the early dorans blade.
Build a phage early to give you a nice slow, some hp and dmg for a low price (if you have amazing farm and got some early kills then buy a BF sword to go into IE right away).

After buying your IE you should get a vampiric scepter to give you more sustain for farming (this is situational, if you're getting harassed too much you should buy one earlier to help you stay in lane longer).

The Atmogs combo is when you see your damage absolutely spike up, the reason I build IE first is because going straight atmogs doesnt give you the early/mid game damage that an AD carry needs to have for teamfights/ganking. Getting that IE early will make sure you burst and hurt enough early to mid game, while at the same time speeding up your farm to get that atmogs combo.
I don't build ASpeed like I see a lot of graves building, Quickdraw maxed out, has almost no delay between uses while attacking anyways, so building more attackspeed seems redundant.

The trinity force and bloodthirster, are the next item options, but usually the game won't get far enough for you to build a BT anyways. Just always have that scepter for the sustain in fights.

Core Items:
Berserker's Greaves: The only reason I wouldn't get this would be in the extreme situation of a very very very CC heavy team.. and even then you should keep these and just get a QSS for the cleanse.
Infinity Edge: AD carry, need I say more?
Warmog's Armor: 1.3k hp and crazy regen, this is how you become a nightmare, get focused live and be back for more in a second.
Atma's Impaler: Perfect synergy with warmog's, not only that but you also get more crit for your IE

Situational Items
Banshee's Veil Quicksilver Sash Madred's Bloodrazor Last Whisper

Max Buckshot first, putting an early point into smoke screen and one in Quickdraw. Take the ult at 6, 11, and 16.

Buckshot: An amazing skill, that not only provides great and easy farming, but is also extremely effective at bursting down your opponents at early levels. A point blank ranged buckshot will take half a squishies HP at lvl 1.

Smokescreen: This is great for harassing, getting away, chasing, team fights, and just plain being annoying. I'll post some screenshots and provide a better explanation for its uses later :D

Quickdraw: This thing apart from giving you an attack speed boost lets you jump over thin walls, which gives you another way to escape, or close the distance. Smokescreen an oponent, quick draw up, buckshot and auto attack them down ftw, just rinse and repeat :) Its importante to auto attack atleast a few times to get the CD of this ability down so you can continue chasing or make a quick escape.

Collateral Damage: You know how it can be super annoying when theres 2 people running away, one with slightly more hp than the other, just enough to block your skill shot and save them both? Well.. that doesnt happen with Graves thanks to collateral damage. If theres someone hanging around the tower in a potential team fight with low hp, just ult whoevers in front of him for an easy kill. This ability has amazing range, and once it hits, the cone behind stretches its range for even longer, couple that with a short CD and you have an OP ability.
Use this in team fights coupled with buckshot for huge aoe damage.

Flash: Amazing spell, absolutely op on everyone, and a must on any carry, you can close the distance, or quickly escape while being focused in team fights to allow you to come back and help your team again.

Exhaust: This spell guarantees you won't lose your mark pretty much ever :P

I've played many games against the more conventional glass cannon type Graves, and this build just destroys them. The moment they get focused, you see a flash/quickdraw away, and even then they still go down in a second. A glass cannon build on graves is basically throwing away your passive, 40 free armor/ MR from just auto attacking a few times is absolutely amazing, but with no HP you're gonna go down just as fast.
With my build you get over 3k hp, hit constant 900dmg crits, and be able to tank to boot, even if you get focused you wont go down, what godlier feeling on a ranged dps?
Enjoy Graves for what he is, a badass tanky dps ranged which will sadly probably (and deservedly) soon be nerfed.