This old, cartoony cursor is seriously out of date compared to pretty much everything else. It doesn't even fit in thematically anymore. Whose gauntlet is that anyway? And why does it turn into a sword when you're right clicking to attack? And why do the colors just invert when you're right clicking on the ground?
It sticks out like a sore thumb when you notice it, yet despite that, half the time I lose track of the cursor on the battlefield just because it can blend in with all the abilities running amok.
Has Riot said ANYTHING on changing the cursor? It's not even something that's particularly hard to change. I was sort of expecting it to be released with the Summoner's Rift visual update, honestly.