It's sorta be like a cool <Fusion>.
Should give either earth or water form the 25% slow (as a proc) that the relic pet makes u lose. Def not un-balanced in terms of raids because u cant reliably pre-slow with a proc, and a better slow will be active by the time ur pet does proc. This adds a ton more survivability for a solo mage (with relic pet) than a tiny heal proc or root/snare, especially given that mages can't keep their pet alive by themselves atm (when killing anything remotely hard).
It would probably change the look of the pet as a side effect, but they would retain the 'base' element abilities for the non relic pet.
It's sorta be like a cool fusion. The mage becomes powerful enough to infuse elements with other elements, giving any of the elements some fire traits while in fire form, etc.
Not sure if illusion breaks size changes when they get moded, but if so: can a pet shrink be thrown in to the pet side of the illusion?
I'm still a big fan of a clickable pet shrink item quest that can be gotten around Starfall quest range level.
All melees would be wtf about the peridots though, and tossing spectral silks into the equation makes things really hillarious.Quadruple the mana and make all summons raid-wide and I imagine all mages would love you.