Pros:

-Can lane with the best of them and even dominate in a 2v1-
-One of the few characters that can blind and the only one that has an aoe blind-
-Decent CC abilities-
-Can both burst and maintain dps (with help of turrets)-
-HIS HEAD IS HUGE AND HE CAN BREAKDANCE ON IT-

Cons:

-Requires much skill and practice with grenading to escape a gank-
-Can't run for ****(to much brain not enough brawn)-
-Blasts through mana with ease-

Greater Seal of VitalityGreater Seal of Replenishment

Marks:

A great all around rune for any caster. Though the effect of this is barely noticeable early game the late game abilities of this rune is substantial and is my recommended mark.
This rune can give you that little extra boost to get first blood and further set your dominance in the laning phase

Seals:

Greater Seal of Vitality An extra 200hp at 18 is very useful on such a glass cannon with only 1.7k base hp.
Greater Seal of Replenishment A great Alternative to the hp runes as it allows you to maintain a lane much better between clarities and b4 you have the Archangel's Staff.

Glyphs:

These will nearly max out the cdr of dinger with the help of masteries and his ult's passive. Hands down the best glyph for dinger

Quintessences:

Again more magic penetration, getting your ap to give the best bang for your buck. With both mark and quint magic pen and boots you gain the 30 magic pen which many people have as their base mr.
This base hp will greatly help early game with surving in a lane or surviving a gank though less useful late game.

I can't count the number of times i've used this to teleport to turrets that i leave around the map to either escape with or teleport to a fight not to mention its ability to help with going back to the lane after a quick return for mana or items. Generally i either get this spell or clarity.
Lvl5 missles cost 145mana/wave and turrets cost 140/place, this is a whole lot of mana and with this spell you can even trick your opponents into trying to kill you with no mana, pop this and bam their dead.
Dingers only escape mechanisms require either great skill to land or time to set up and in a pinch this will save your life countless times. I almost always take this and when i don't i take ghost instead
An alternative to Flash but Dinger has the slow 300 base speed and even with ghost anyone with decent spell will still catch you but can work well to chase for a kill.
A rare pick for dinger but still useful for a quick first kill or just to block a healing type such as warwick or soraka.

CH-1 Concussion Grenade

Hp regen on a nuker? seems stupid but its actually not. This is what helps give dinger such great laning ability. this regen is more or less enough to keep your hp high enough to stay in a lane when others would leave but this ability is more than that. the regen from this passive is an aura and works on everything, nearby minions, nearby champions, and nearby turrets botht he ones you summon and the ones that are placed on the map. So the turret takes a little dmg while you were back a tthe shop, just stand near it to heal it, only ability in the game that can do that.

This is a great farming ability however the main use of this ability is to keep out like wards to protect from ganks. The reason why this build rushes lvl3 turrets is to allow you to keep one on each side if in mid or to keep one to protect from ganks in a lane and one to farm. This skill can be kept at lvl1 instead till missles are maxed out for better dmg if you feel no need to have one to farm with in a side lane.

This skill has the ability to cause enough frustration to get enemies to QQ early game. The range on this ability is crazy and it cant miss with great dmg as well. The only downside to this is that the 3(5 with ulti active) rockets it fires has to be to different targets and it auto-targets the 3 closest targets regardless of any nearby enemy champions. This is the main damage dealer and harassing ability of dinger.

CH-1 Concussion GrenadeTaking one rank of this is great for survivability. The stun on this spell is a flat 1.5 seconds regardless of rank and all that increases with ranks is the dmg and length of blind. That 1.5 second stun is a lifesaver and can set up your group for larger aoe's and initiations.

The passive from this ability is crazy, 10/15/20% cdr is like a walking morello's without having to spend a slot and makes getting max cdr a breeze with or without items. The active portion does wonders as well, it increases the amount of missles dinger fires at once to 5 (hmm that number seems familiar), causes dingers somewhat slow grenades to move faster, and instantly heals all turrets and gives them a slow (note that this slow wont apply to turrets activated after the ultimate).

Missiles Missiles Missiles, i can't stress this enough the amount of usefulness is crazy, unlike the rest of his abilities it has a pure instant cast which allows you to land in a quick harass and get away without stopping as well as hit anyone chasing you without stopping. The amount of dmg scales pretty well with the mana cost. following up the missiles with maxing out the turrets allows you to farm very easily and quickly, these coupled with a placed towers can even help block a pushed wave as well as farm for you across the map. Following up with the grenades dmg and blind increase can help especially with carry's by out right stopping their dps for up to 3seconds enough to either cause them to run and get your teammates for help.

CORE:

Great bonus to the mana pool as well as ap bonus and pretty much all the mana regen you'll truely need. This is a must have for any nuker with such high cost abilities.

More magic penetration and who doesn't love being able to move faster.

Very nice bonus to hp and ap as well as giving all of your rockets and grenades a 15% slow which is plenty to help keep them from running as well as getting you to be able to run.

Omg the ap bonus and passive on this thing is insane, a must have for any nuker.

Common Situational Items

Great Ap/MR for the cost as well as giving a nice indirect Magic penetration against anyone near you for your entire team. very nice to have against an ap heavy team that is lacking in cc.

Yay super passive, blocking one negative spell every 45seconds as well as giving a nice dose of hp,mp and mr.

All the ap in the world doesn't do anything if they resist all of the dmg anyway and this gives you 55% magic penetration after the flat magic pen runes and abyssal scepter if you have.

Great armor to improve surviability as well as an ap bonus only topped by rabadon.The stasis can save your life endless times from massive aoe nuking or single target nuking from tearing you apart. Also your turrets will keep firing while your in stasis.

Even greater armor than Zhonya as well as MR but nothing to make you more deadly.Like the zhonya it can also save your life but often makes you a quick focus target upon revival but also note that not only do the turrets continue to fire while reviving but your ultimate will continue upon revival if there is still time left on its duration.

Early Gameplay 1-9

Dinger should always either be in the mid lane or preferably the 1v2 lane where you truly shine. the outlvling nature of his missle abilities is not only enough to maintain a lane but actually get first blood and keep a lane pushed for extended periods of time. If they try to hide in the bush a combo of a grenade for sight followed by a missle strike works very well to prevent them from trying to sneak in some exp or land a hit against you from the bush. If you took teleport, place a turret deep into a bush to prevent auto attacking followed by returning to the base in clear sight can trick them into pushing a bit which is a deadly mistake, by teleporting into the bush they won't see you coming and with the help of a gank from a jungler can lead to easy kills.

Mid Game 9-14

Around this time your missles are maxed out and are working on the turrets, if the other lanes are going well then a tower should have dropped and you should be getting consistent help in taking down the enemies turret in your lane as well as supporting other lanes. You should continue your strategy of whidling away at the enemies hp hopefully until you either get a kill or force them to recall and finish up the tower. This is also the timer where you can help with ganks by opening with the grenade and placing ult'd turrets where they are likely to run to.

Late Game 15-18

At this point in the game you are likely to still be a few lvls higher than the rest of your team excluding the mid and should take advantage of this to hold a lane while your teammates spend some time to farm or push other lanes. Your objective in a team fight is to be the pre-initatior, by this i mean is to help set up a main initiator by lowering the enemies hp to atleast 50% or less as well as opening up with your grenade to make sure that they cant avoid the initation by the main initiator. During the fight just simply place one turret to where the fight is and one to where the fight is likely to go but only if it doesn't take you straight through current fight as well as blinding any main melee dps and firing off missles as often as possible.