I've been considering it as well but more as a counterpick for short range immobile things that I don't want to just Nunu (same thing I'd re-picked up Ahri a few months ago for, then she got the Q buff and went to perma-ban), I'd probably just go standard blue build with gauntlet.
Mostly considering it as a Nasus counter tbh, I've yet to get to test it (all the dogs dried up the moment I bought Ezreal!) but it at least looks favourable both early because you have range and poke that doesn't shove the wave, and split-pushing later since with gauntlet Nasus shouldn't be able to touch him and you have more pressure by being able to fire ults across the map.
I'd still run teleport, it's just too good in top lane at the moment. The way I see it up top is you take ignite if you're playing something really snowbally (say, a Fiora) and want to crush the guy quickly and go out of control, Exhaust if you're intending to split and try to duel people 1v1 a lot (Yasuo), teleport otherwise.
Iceborn with maybe Bork should be more than enough to keep anything shorter ranged off of you, I think building tanky beyond that is counter-productive since Ez brings no utility (and doesn't want to be in the frontlines!) so you being a brick doesn't matter because you aren't giving the other team a reason to focus you. Generally tanks either have a bunch of utility/CC to make them a threat while they sit in your team (your Maokai's, Sion's), or the ability to dive and wreck a squishy (Renekton, Irelia/Jax later game), which makes them a threat.