Lux... Crazy high mana costs like Morg with lower CDs is a recipe for running OOM in 2 seconds flat, especially early game. She *Can* farm, but only if no one tries to harass her at all, her skill shots are fairly dodgeable, even the laser unless they come out of the bushes when you don't expect them. She can poke from an uber long range, sure, but only like 3-4 times before she is OOM and can't execute a combo, and her pokes are pretty weak unless you use you passive and autoattack in combos with your skills for damage, which completely nullifies her range advantage. (You have to get inside horrible instant rape radius to aa with Lux.) Lastly, even the little bits here and there of damage Lux can take from minions do not just heal off like what Morgana's passive does for her.
I have heard someone say that Lux was "Morgana 2.0", but having bought Morgana as my first champ when I started the game (I hated her and went levels 5-25 maining Soraka) and having bought Lux and tried to play her because she looked like fun... I just don't like to play Lux, no matter how careful I am (no utilizing the passive) or how aggressive I am (combo hell) or what lane I take, I end up running out of mana instantly and out of health not long thereafter. I have had a few lucky games where I managed to get fed as Lux, and honestly, while she can blow up a champion here and there, and her ulti can do some really **** annoying damage fairly often, the only thing she can really do is halt mid pushes cold by making the enemy team feel like she feels all the time (running out of mana and health... I need to go back to base ><) and if she doesn't get fed... the game just goes downhill from there. You might snipe a kill or two that other teammates did most of the work for, and you might save someone with a well timed snare and/or slow, but that's about it. I proclaim Morgana Lux 2.0 preemptively (before Lux came to the league, Morgana was better).
Edit: Oh, also, all of Lux's cast animations are way too **** long. You have to stop for .5 seconds or more just to throw that snare that has a 50% chance of being dodged even if you aimed correctly backward while running away or chasing... yeah, just doesn't cut it, and while Lux's Lucent Singularity has a slow component... it has travel time to get to the location it was shot to before it gets set up, the only situation where you can force enemy champions to run through it is when you are defending a turret (nearly always the second mid turret), and even then the enemy can just wait till it goes down and then charge while it is on CD again. Lucent never helped me escape or catch anyone, that's for sure, because in the time you are casting it and firing it to the target either your chaser is beating on you while you stop to fire or your runner is getting farther away while you stop and is probably going to leave the range of the slow before it gets there.
Lux's abilities are comboable with autoattacks but... the cast animations and travel times and autoattack speeds and skill cooldowns just do not synchronize well with each other, add in the skillshot factor and finding an enemy out of position and then proceeding to land a full combo on them will be incredibly difficult... if you manage it you better be sure they will be prepared to dodge the laser if they have ever seen Lux before.