Well I adore the idea of Alakazam being returned to his former glory, but things are not easy for him. I mean sure, Magic Guard and Psycho Shock are fine additions, but with a metagame jam-packed with powerful physical attackers and priority, Alakazam's obvious frailness is pretty clear. And wit hall of the newer more powerful Pokemon, Alakazam's fantastic Sp.Atk and Speed are becoming less and less notable.
So while seeing him in OU would be nice, I do not think he stands much hope, and I shall enjoy using him on my UU teams.