I was asked to do one in the main LoL thread, and thought I would update it here. I have never, and never will look at Elementz's tier list, so this is from the top of my head. I will go through and do a Lane Tier list, and a Jungle tier list for Summoners Rift. Feel free to post any thoughts/suggestions/arguments.
Elementz never takes into consideration the EU playstyle, his tier list is aimed mainly at US. I will provide reasons for each pick. Remember, this is >>Ranked and Competition play<< - An argument isn't "it's my favourite champion so I disagree"
Laning:
Top Tier Picks (Either Regularly banned or picked)
Brand (Middle or Top)
Caitlyn (Bottom Lane)
Cassiopeia (Middle Lane)
Gangplank (Top Lane)
Kog'maw (Bottom Lane)
Lee Sin (Top Lane)
Morgana (Middle or Top)
Graves (Bottom lane)
Second Tier Picks (Strong picks)
Akali (Top or Middle)
Alistar (Support Bottom Lane)
Anivia (Middle Lane)
Ashe (Comp dependent, Bottom Lane)
Cho'Gath (Top Lane)
Ezreal (Bottom Lane)
Galio (Top Lane)
Gragas (Middle Lane)
Irelia (Top Lane)
Janna (Support Bottom Lane)
Karthus (Top Lane or Middle)
Kassadin (Middle Lane
Kennen (Top Lane)
Miss Fortune (Bottom Lane)
Nasus (Top Lane*)
Orianna (Middle Lane)
Riven (Top Lane*)
Rumble (Top or Middle)
Singed (Top Lane*)
Skarner (Middle Lane/Top Lane)
Sona (Support Bottom Lane)
Soraka (Support Bottom Lane)
Talon (Top Lane*)
Taric (Support Bottom Lane)
Tristana (Bottom Lane)
Udyr (Top Lane*)
Urgot (Expect to see more of him, Bottom Lane)
Vayne (Bottom Lane)
Warwick (Top or Middle lane)
Wukong (Top Lane)
Yorick (Top Lane)
Zilean (Middle Lane)
Nidalee (Top Lane)
Jax (Top Lane)
Third Tier Picks (Good picks)
Annie (Middle Lane)
Blitzcrank (Top Lane, or Support Bottom)
Corki (Bottom Lane)
Garen (Top Lane, can work Bottom Lane)
Jarvan IV (Top Lane)
Heimerdinger (Middle Lane)
Katarina (Top or Middle Lane)
Leona (Support Bottom Lane)
Lux (Middle, or Support Bottom Lane)
Malzahar (Middle Lane)
Maokai (Middle Lane or Top Lane)
Mordekaiser (Middle Lane or Top Lane)
Pantheon (Top Lane or Bottom Lane)
Poppy (Top Lane or Bottom Support-esque)
Renekton (I sense he will be buffed soon, Top Lane)
Ryze (Top or Middle Lane)
Sion (Considering boosting him up, Top Lane)
Sivir (Bottom Lane)
Swain (Middle or Top Lane)
Teemo (Top or Bottom Lane)
Tryndamere (Top Lane)
Twisted Fate (Middle or Top Lane)
Vladimir (Top or Middle Lane)
Xin Zhao (Top Lane)
Xerath (Middle Lane)
Fourth Tier Picks (So niche, that they could be anywhere)
Amumu
Dr.Mundo (Top Lane)
Kayle (Top or Bottom Lane)
Evelynn (Has to Roam)
LeBlanc (Middle Lane)
Fiddlesticks (Middle?)
Karma (Middle Lane or Support Bottom)
Malphite (Top Lane?)
Master.Yi (No idea, Top lane maybe?)
Nocturne (Same as above)
Nunu (Bottom lane support perhaps?)
Olaf (Top Lane)
Rammus (Top Lane or Bottom 'Support')
Shaco (Bottom Lane AP?)
Shen (Bottom Lane Support / Top Lane)
Trundle (Top Lane)
Twitch (Has to Roam)
Veigar (Middle Lane)
Jungling
Top Tier Picks:
Lee Sin
Gangplank
Nocturne
Second Tier Picks:
Amumu
Fiddlesticks
Trundle
Riven
Shaco
Udyr
Warwick
Rammus
Jarvan IV
Third Tier Picks:
Nunu
Tryndamere
Twitch
Alistar
Cho'Gath
Maokai (I don't care if OddOne suddenly loves him, they've lost 80% of scrims that OddOne has played Maokai)
Olaf
Shen
Xin Zhao
Currently not sure:
Skarner - He's either very good, or very bad, depending on who's playing.
Wukong
Blitzcrank
WTF are you doing:
Everything else.
* - These champions should 99% have top lane. Lane switching, unless extremely farmed shouldn't be attempted, as weaknesses/strong points mean they solely need top. Singed for example, unless he can run at, and kite, and dive passed turrets, loses a lot of pressure if he has to go mid.
Graves Patch
Jax moved from tier 1 to tier 2
Moved Nidalee and Skarner to Tier 2 from Tier 3
Added Graves to Tier 1 currently, might get tweaked depending on nerfs
Xerath added to tier 3.