Item Build Summary
Head: Supreme Tyrant Helm of Vaccuum
Goggles: lawngreenSteel Min - II goggles.
Neck: Epic Torc of Raiyum
Trinket: Planar Focus Erudition +3 insight - Planar Conflux
Cloak: Mabar's Epic Night Cloak (Ghostly + Displacement grants 55% miss (1-0.5*0.9 = 0.55). )
Armor: Mabar's Epic Robe of Shadows
Belt: Epic Lion headed Belt Buckle
Boots: Epic Rock boots T3
Gloves: Supreme Tyrant Gloves of Concordant Opposition
Bracers: Epic Bracers of the Demon Consort
2-hand Weapon: Twilight, Element of Magic - Planar Conflux
Ring1: Static Ring - +8 Int random gen ring (If someone knows a good additional stat, please share.)
Ring2: Epic Ring of the Buccaneer T3
Versus.
Head: lawngreensteel Helm with 45 HP and Concordant opposition
How are you getting 45 hp? what is your negative stat here?
It's Tier 1 Neg/Esc/Mat, strength skills +1, a pretty common combination
Goggles: Epic spectacles of spirit sight (sure, twilight makes this obsolete, but read on pls)
will likely be dropped for Magewrights Spectacles
Neck: Epic Torc
Trinket: Planar Focus of Erudition with +3 insight to int
No planar conflux
Cloak: Epic envenomed cloak slotted with toughness
Slotted for heavy fort. True, i confused something in my initial post
Armor: Epic Robe of Shadows slotted with heavy fort
No epic slot. Again, true.
Belt: Epic Lion Headed Belt Buckle / Eerie Belt
Boots: Epic Boots of Corrosion Slotted with -15% Arcane Spell Failure
Gloves: GS Gloves with Wizardry VI + 150SP and AshII (enervation Guard)
Bracers: Epic Bracers of the Demon Consort
Offhand: Alchemical Large Shield, Admantine, t1 mystical earth, t2 martial earth, t3 mystical fire
Main Hand: Swap to whatever is needed, like Nullification of Necromancy Mastery, Corrosion of Acid Mastery, etc.)
Ring 1: Epic Shamans Band (not quite happy with that one)
Ring 2: Sanuras Band slotted with exc. con 2
With respect to wearing 2nd build instead of first.
Gain
Alchemcial Con +2 (Alchemical Earth Martial shield)
Constitution +7 (Envenomed cloak)
+1 more con than Lion head belt
Insightful Con +2 slotted on Sanuras Band
Efficient Metamagic Maximize II (Alchemical Fire Mystical shield)
Conjuration Focus +1 (epic shaman's band)
As i said, will likely be dropped for random +8 int ring
Disintegration Guard (Epic Corrosion boots)
Greater Acid Resistance (Epic Corrosion boots)
Not useful. Can be replaced with Resist element spell or guild ship acid shrine.
Greater Poison Guard DC 28 (Envenomed cloak)
Not useful
Loss and stats that were overlapped.
+8 int (rand gen Ring - Int Stat +6 from Sanura's band. You lose 2 int.)
See above
+250 sp (planar Conflux overlaps your +150 from GS)
The Eere Belt has Archmagi, which can be swapped after initial buffing or kept for +60 stacking Nullification Spell Power
Toughness (Ring of the Buccaneer green slot. Both builds about the same Aug slots. I have 1 yellow from stone boots, whereas u have 1 green from Envenomed cloak. However, you lose one more green slot (corrosion boots) because you need the -15% ASF for the alchemical shield.)
Its true, I'm lacking Toughness, which is sad. On the other hand, I gain a total of +5 Con, which equals to 50 to 75 Hitpoints.
Greater Arcane Lore (Twilight, Element of Magic)
While true, this is bypassed by using different mainhand weapons with the appropriate lore type.
Potency +80 (Twilight, Element of Magic)
Not needed with the correct mainhand weapons for the spell at hand.
Impulse +120 (Twilight, Element of Magic)
This would only affect the bludgeoning damage part of ice storm and meteorswarm, disintegrate and magic missles. Since I'm acid specced, the only loss is for disintegrate, a very situational spell.
Spellcasting Implement +21 (Twilight, Element of Magic)
Id get +18 from a min lvl 25 +6 <Element> scepter of <Element> Mastery
+15 psionic universal Spell power (planar Conflux)
see above
Major Evocation focus (Twilight staff - overlaps Alchemical fire mystical)
by using Mainhand weapons like ".. of Acid Mastery" you get the major focus anyway
Major Enchantment Focus (Twilight, Element of Magic - overlaps Epic Spirit sights)
same like evocation focus, you get it from a main hand weapon
Dexterity +7 (Epic Ring of the Buccaneer T3, Necessary for some trip saves.)
Necessary is a really strong term here. Nice to have, ok, but its really not necessary.
Underwater Action (Epic Ring of the Buccaneer T3)
Palemasters dont breathe
Ghostly (Mabar's Epic Night Cloak)
I really want to get hit, cause soo many effects only go off on being hit. so why should i try to avoid getting hit, as long as i can survive the hits? And i CAN survive a bunch of mobs beating on me in epic hard content for all eternity, if need be. Though usualy they dont live that long 
Good Luck +2 Saves/Skills (Epic Ring of the Buccaneer T3)
True, but the saves are partly offset by getting +1 more resistance from epic envenomed cloak.
Slippery Surface Immunity (Epic Rock boots T3)
Again, thats more like nice to have.
DR 5/Good (Mabar's Epic Night Cloak)
I can get DR 19/- by shieldblocking with divine power clickies
Dodge Bonus 2% (Mabar's Epic Night Cloak)
see Ghostly
Inherent (10) Acid Resistance (Epic rock boots T3)
again, nice to have, but not that great.
Trap the Soul Guard on-hit 1% chance, Trap the Soul 30 HD version, will save DC 30 (lawngreen Steel Vaccum helm) Thats a nice guard, true. On the other hand, I favor enervation guard (which has a way higher proc chance) because it combines well with demonic curse and shaken effect from lion headed. All of them lower my enemies saves, so i can instant kill them myself.
Invisibility Guard (Mabar's Epic Night Cloak)
I want to get hit 
Nightmare Guard (Mabar's Epic Night Cloak)
A nice instant kill guard, no doubt. Though in high level content, a DC 35 will save with a 5% proc chance is not too great. Enervation guard has no save, and my instant kill DCs are >50.
Stone Prison Guard - Chance to Flesh to Stone (DC 17) (Epic Rock boots T3)
a nice CC guard
GS loss:
T1 CHA (UMD)
IMO, UMD is generally needed on a palemaster only for ressurection scrolls. I can use an epic flameward or a single shard cha skill GS item to get to the needed UMD
T1 &T3 DEX (balance)
4 Immunities (Poison, blindness, Disease, Fear)
None of these are necessary in any way, thats what pots are sold for.
T2 & T3 Con (Concentration)
I do get that
lawngreen Steel Loss
I am assuming your two gs are.
Helm: Neg +10 hp +1 str, + 15 hp + 2 CHA, + 20 hp + 3 CHA
Gloves: T1-3 Int skills, For the Wizardry (+150), and the +150 SP.
INT skill does nothing for wizards.
True
Possible Additional Stat Overlap
Superior Nullification IX (+120? Need Confirmation - (Mabar's Epic Robe of Shadow))
Superior Void Lore (Mabar's Epic Robe of Shadow)
Superior Corrosion IX (+120? Need Confirmation - Epic Rock boots T3)
Superior Acid Lore (Epic Rock boots T3)
If you're saying.. you will swap a 1-hand rand gen for these. I can't consider that static to your build.
Well, thats a bit strange, i consider swap items as party of my layout, because i have the desred effects when i need them.
Notes:
You have a lot of Acid / Neg lawngreenundancies/Overlap. 1-hand Null/Acd. Ash Gloves. Epic boots of Corrosion.
You do not have a set superior acid / void lore. You do not have an arcane lore to cover this lack as well.
You do not have a potency item.
I dont really understand that part. Ash gloves have no spell power or spell critical in any form. Superior void lore is on the epic robe of shadow, and superior acid lore is party of a corrosion of acid mastery item. Again, arcane lore is not needed if you choose the right weapon for the situation at hand. Same is true for potency
A major loss on int comparison is you lose 2 more int than my suggested build. +2 insightful (Sanura's band) does not stack with +3 insightful (Planar Erudition). This means, you only have a +6 int enchantment item (Sanura's band) whereas, my build uses a +8 int rand ring). Mayhap take out Sanura's for a simple +8 int rand ring will solve this.
See this post and my 2nd post