Zombie Form:
The revamp to this form gives you percentage boost to HP, percentage boost to damage, melee power, PRR, & MRR in exchange for attack speed loss which can be somewhat negated through certain means. I don't see how zombies in general are physically stronger than a vampire when vampires are known to be supernaturally strong and zombies are known to be very durable. So it would make sense to me atleast to make zombie form into more of a defensive form.
My revision: Shroud of the Zombie: While in this form, +2 Strength, +4 Constitution, On Critical Melee Hit: 1d6 Intelligence damage, +25 PRR & 10 MRR but you attack 15% slower than normal.
Ascendant Zombie: While in Zombie Form, 10% damage reduction. +20% Racial Bonus to maximum Hit Points.
Vampire Form:
It is nice to see this form being on par with the other forms in terms of taking incoming light damage aswell as having a percentage chance on attacks to self heal and paralyze enemies. However without clarification of the percentage chances of these procs it's hard to determine how good or how bad these will be. Aswell as having +3 to perform makes no sense whatsoever.
My revision: Shroud of the Vampire: While in this form, +2 Charisma, +2 Intelligence, +2 Strength. +3 to Charisma skills, and your melee and unarmed attacks do 20% more damage and have a chance to heal you for 1d3 Negative Energy damage per Wizard Level.
Ascendant Vampire: While in Vampire Form, +1 Enchantment DC. Your melee attacks have a chance to dominate your adversaries. On Hit: Target has a chance to be Paralyzed (Will save vs. DC 20 + Wizard Level + INT Mod + Enchantment Spell Bonuses). On Save: -10% Movement and Attack Speed.
Wraith Form:
I personally think incorporeality in Pale Master should be mutually exclusive to Wraith form because it's the main thing about the form and there's gear that has incorporeality on it. Currently on live in improved shroud form of Wraith you can get 30% incorporeality. Not 35% as it's description states. And not 25% as Lynnabel stated. With that said I say leave incorporeality on Wraith and change Ghost in the Wind to something else.
My revision: Shroud of the Wraith: While in this form, +2 Dexterity, +2 Intelligence. Enemy attacks have a 20% chance to miss you due to incorporeality, +1 Sneak Attack Dice, +5 to Hide and Move Silently, Feather Falling and Ghost Touch. On Critical Melee Hit: Deals 1d6 Constitution damage.
Ascendant Wraith: While in Wraith Form, +10% Incorporeality (bringing your total to 30%), +2 Sneak Attack Dice. +3% Dodge & Dodge Cap. +10 to Hide and Move Silently (total of +15 to Hide and Move Silently).
Lich Form:
I understand taking the extra DCs from Lich form and making it accessible to every form but Lich form needs something as good to compensate that loss and an extra 10 Negative spell power and 15 MRR isn't going to do it justice.
My revision: Shroud of the Lich: While in this form, +4 Constitution, +2 Intelligence, +10 Negative Amplification, +10 Universal Spell Power, +15 MRR, percentage chance to gain temporary hit points when damaged
Ascendant Lich: While in Lich Form, +10 Universal Spell Power (total +20), +5% Spell Crit Chance, +10% Spell Critical Damage, +15 Cold and Electric Resistance.