Good news guys:

Base Stats:
- Attack Speed per level increased to 3.5 from 2.9
- Base Armor increased to 15 from 12

Broken Wings bonus attack damage ratio increased to 0.7 from 0.6.
Ki Shout cast time decreased to 0.25 from 0.5

Valor:
- Shield increased to 60/90/120/150/180 from 40/70/100/130/160.
- Cooldown decreased to 10/9/8/7/6 from 11/10/9/8/7.

Wind Slash:
- Cast time decreased to 0.25 from 0.5
- Missile speed increased by 10% to 2200 from 2000.

Pros:

+ Fun to play
+ High mobility
+ Doesnt need mana
+ Can interrupt channels twice in an AoE
+ Nice finisher Ulti


Cons:

- Early squishie
- Needs skill to play (is it negative?!)
- No selfheal

For Runes I use Flat AD Marks, Greater Quintessence of Desolation Flat ArPen Quints, Flat Armor Seals and Flat Magicresist Glyphs.

I chose the Flat AD Runes because all of Rivens skills scale with it and she is getting a buff which makes her scaling better. The Flat Armor and Magicresist are usefull for the early game when you dont have Phage/Frozen Mallet, so you are not that squishie. If you still think you are to squishie you can also take Flat HP Quints. This will help you much in early game. Furthermore I tested Flat Movementspeed Quints and did pretty well with it. With the first boots and Janna in my team I got 403 movementspeed.


Reason for taking Flat AD Runes instead of Flat ArPen Runes:

I did some math. When Riven is level 3 you have a point in all skills espect the Ulti. At that point I started calculating how much damage you do with one Combo (Valor, AA, Ki-Burst, AA, Broken Wings, AA, Broken Wings, AA, Broken Wings, AA). The result was that you will deal ~20 damage more when you are taking Flat ArPen Runes. So I decided to take the Flat AD Runes since your shield also profit from it. Well there is nearly no difference between it. So its pretty much up to you which Runes you are taking. But saying Flat ArPen Runes are better is just not true!

Masteries:

My masteries are 15/6/9 now.
With these masteries I become a bit tankier and my damageoutput is pretty high.

I changed it because now I will get the most profit from it:

1. I become tankier
2. I level faster
3. I do more damage

Summoner Spells:

As summoner spells I chose Flash and Ignite.
Flash is very usefull to escape in combination with Valor and Broken Wings as well as finish someone with Wind Slash and Ignite.


Why Ignite is better than Exhaust:

1) Normaly you are faced against Off-Tanks with a selfheal like Irelia and Yorik at the toplane. So taking Ignite is much more effective because you do more damage then they do, whereas they have a sealfheal. So taking Ignite is much better option.
2) When you use Exhaust at someone he can just Flash away, stun you or slow you so its like you dont have a summoner spell.
3) Ignite ALWAYS does what its suppost to do. Ever done Ignite + Wind Slash?! Its a sure kill even if they Flash away.

All in all Exhaust is an option when the enemie is stupid and stay fighting, so Ignite is the much better alternative. I cant tell enough how often I just killed someone cause of it... If the enmie is low, and you know he has Flash up, just activate your Ulti, do some skills , Ignite him. I always get every kill useing Ignite even if the enmie Flash away. Just wait a bit until Ignite is nearly finished and then Ulti him. With Exhaust you wouldnt have got him.

First of all I want to mention the amazing passive of Riven, Runic Blade. After using a skill, your next autoattack will deal 50% of your bonus attackdamage plus 5-15 (depends on your level) bonus damage. The passive can stack up to 3 times, this means after you used Broken Wings your next 3 attacks will deal bonus damage. After you waited some seconds the passive times out, so make sure to use it. If you also use more spells then your Broken Wings you will have to autoattack between every spell to get the highest damageoutput.

First three Skills i get are Valor -> Broken Wings -> Ki Burst.

Priority after the first 3 Levels:


Valor gives me an early free harras because I get a shield which prevents me from damage and my passive will proc which helps me to harras. For more harras I get Broken Wings at level 2. In order to make my damage saver I put a point in Ki Burst to stun the target when I dash in.


Because many persons suggest to max Ki Burst first, I tried it and yeah if you are not so sure with your Broken Wings its a good alternative also because the enemie gets frightened when you do such a burst with it:

But dont forget Broken Wings gives you at all ranks 60 more damage whereas Ki Burst only gives you 40 more damage. All in all you deal 100 less damage when you are maxing Ki Burst. The other option to max Valor seems to me pretty nice and I also do it when I get constantly harrased. But most of the time I maxed Broken Wings first. Furthermore, in almost any situation early game, where the skill order matters, you will not get off more than one use on each ability. Therefore it makes perfect sense to level Broken Wings first. But because its harder to hit I now changed the Skill Sequence. Test it out and you will see the result.

Ok guys, now I will come to a long part... Every Item I chose is well thought and shouldnt be changed. In the following part I will explain why I actually chose these Items. These Items are chosen for the sololane but shall also work on a duolane with a supporter (did well with Leona too).

First of all I get Boots of Speed and three Health Potions. The reason is simple: My harras will be better because it helps me to get my passive of and to get away save without taking any damage. The three Health Potions fix the lack of selfheal until I get some lifesteal.

On my first back I will get The Brutalizer, a Sight Ward Ward and some Health Potions. The Brutalizer gives me the armorpenetration which I dont have and also a nice AD-Boost for all my skills.

After that I try to grap Vampiric Scepter and Phage on one back in order to stay longer in lane and to be a bit tankier. If I also have enought gold for Mercury's Treads I will buy them too. If the enemies dont have so much CC I will grap Ionian Boots of Lucidity.

My next Item depends on the enemies. They do a lot of damage, then get Frozen Mallet. If I need more damage and the enemies arent so strong I will get The Bloodthirster which gives me the most damage in the game when its full stacked.

Now I do a lot of damage and are not so squishie. In order to improve both I buy Atma's Impaler. My last item will be Banshee's Veil which gives me good magiresistance, life and an insane passive. During my backs I always grap Sight Ward Ward to save me from being ganked. Finally I will finish my Youmuu's Ghostblade.

Core Build:




Final well-rounded Build:

Against AP-Based team:




Against AD-Based Team:





Build in testing:






Situational Items:


Against AD-Based Teams:
Atma's Impaler, amazing in combination with Frozen Mallet etc .
Randuin's Omen, nice active and well rounded stats.
Guardian Angel, good passive which is realy helpfull when you are getting focused.
Sunfire Cape, all in all good item.
Frozen Heart, good against Master Yi and other AD-Champs.
Thornmail, prefer Frozen Heart.


Against AP-Based Teams:

Hexdrinker, nice item on Riven which gives her good AD and magicresist.
Banshee's Veil, has a pretty nice passive and provides nice magiresist.
Force of Nature, realy good item which gives you a nice movement and magicresist.
Quicksilver Sash, good against Warwick , Malzahar and Mordekaiser as well as heavy CC teams.
Spirit Visage, viable but not that good.
Wit's End, viable but Riven isnt an autoattacker.

For more damage and if the enemie is stacking armor:

Last Whisper, good against armorstacking enemies
The Bloodthirster, gives you 100 more AD if you really think you need more damage its the best item you can get

Items in testing:

Shurelya's Reverie, nice CD-Reduction and amaizing active
Cloak and Dagger, instead of Mercury's Treads (pick Ionian Boots of Lucidity then

Many person are complaining that Riven is UP. The reason for that is because the just dont now how to play with her...
Riven is not Irelia. You cant go in when ever you want. YOu cant take as much damage as you want.

During your laningphase you can easy harras your enemie: Dash in with Valor, do an AA, use Ki Burst do an AA and go out with Broken Wings. This is the savest way of harrasing an enemie. For more damage you can go in with Broken Wings (make sure to AA between the casts) use Ki Burst do an AA and go out with Valor.



In order to get away from a gank go in the bush, wait for the enemies coming, directly use Ki Burst and jump out with Valor and Broken Wings. When this is not enought use Flash.

For the Jungle your masteries are the same, take Smite and Flash, my runes are the same too.

First route:



Your first item is a Vampiric Scepter. Put the first skillpoint in Broken Wings and start at the Wolvecamp.
Then go to the Wraiths and smite the big one, put a point in Ki Burst and finish the camp.

After that you go to the small Golems, kill them and put a point in Valor. After you backed, grapped an Cloth Armor and a Health Potions you go to the Blue Buff and take it. After that you go to the Wolfcamp and put a 2nd point in Valor. Then you go on with Wraiths, Red Buff and Golems. Then get Madred's Razors and Boots of Speed. Finish your Wriggle's Lantern next.

Second route:



Start with a Cloth Armor and 5 Health Potions. Put a point in Broken Wings, go to the small Golems and let a teammate pull. After you finished them you can do a level 2 gank since you have a point in Broken Wings and Ki Burst. When you dont gank go to the wraiths and wolfs. Now you should be level 3 and have 2 Health Potions left. Now you can also gank or give the blue buff to your AP-Carry or do the red buff. After you have more than 700 gold, go back and grap Madred's Razors and some Health Potions. Now you can go on where ever you want.



Jungle Itembuild (exchange Wriggle's Lantern with The Bloodthirster later):






Stonewall made a pretty good video for the first route:

Runes for Dominion:

For Runes I use Flat AD Marks, Movmentspeed Quints, Flat Armor Seals and Flat Magicresist Glyphs.

In my opinion Movementspeed Quints are a must have on Dominion, they help you very much to get from capture point to capture point.


Summoner Spells:


For summoner spells I take Ghost and Garrison. Ghost helps me to get faster to other capture points. Garrison helps me to defend and capture points.

Items:

My starting items are Boots of Speed and Prospector's Blade. Then I go on with The Brutalizer, Ionian Boots of Lucidity and Phage. My next items will be Warmog's Armor and followed by Sanguine Blade and Atmas's Impaler followed by Entropy. Now I deal "Tons of Damage" as Phreak would say... In order to survive longer and get some resistance I garp Guardian Angel, Force of Nature or Last Whisper instead of Youmuu's Ghostblade.




Your job on Dominion is to kill an enemie as fast as you can so you can easy capture a point or defend a point. Because you have nice AoE spells you can pretend many enemies from capturing a point.

Oh yes it does...

These is only my first view of Riven. Changes might be coming as well after some more testing. All in all I can say, that Riven isnt Up and that she is so much fun to play. If you like, give me advices how I can improve my guide, but dont vote down without any reason.
You dont have to use the build if you dont like it. This is only how I play her and I can say that you do always good with this build (from early- to lategame). In lategame you are an unstoppable monster who can rape everyone.

Champs I owned at top:





Champs where I needed ganks:




Finally a Quadra-Kill I have done with Riven (nothing special):