On the topic of speed, permanent speed boost items become pretty close to mandatory. They have been this way in every AoS game I have ever played because increased movement is so powerful. There is a huge pressure for every hero to grabs boots of speed early. Perhaps the permanent speed boost should be a rare and expensive item, so instead there is a real decision made when building your hero.
Some ideas for a speed light item set:
Wand of speed: Drop cost to 75, make it single use on a 60s cooldown.
Boots of Speed: Remove item, replace with a cheap dodge item
Anklet (favor boots): Reduce to 5% speed boost (maybe very slightly higher, but the number should be low) have it activate for a speed boost similar to the wand. This is expensive in the fact that it costs your favor slot for a small speed boost. I think favor items in general will need a rebalancing to get them all to be a certain level of desirability though.
Cloak of Elvenkind (the relic that currently gives speed, dodge, and teleport): Reduce speed boost to 15%, maybe slightly lower. Probably up the cost to 15k-18k.
An infrastructure similar to this would make the speed boost items much rarer and difficult to get and reflect the true power of a speed boost. A player who buys the anklet sacrifices other favor items for a small speed boost. The wand is a great speed boost, but if you use it carelessly, it will be unavailable when you really need it. The cloak is an extremely expensive, but a true speed/movement advantage.
As it stands in every game the group I am playing with goes for speed items quite early.