Personally i don't see anything wrong with the current RDM. Its my fav class so i've experimented with different ways of using him. I'm a melee fan at heart and what i like about RDMs are they are the Jack of all Trade class, meaning they do a bit of everything. I actually found a good combo that doesn't use a lot of TP and throws some magic in as well.
Basically i just use the starting melee attack, the second melee, followed by jolt ll, and finish with Drain. with this combo i can melee and do magic damage while not wasting buckets of TP. And if you use micro correctly, you add in the auto restore to TP. My TP barely ever goes below 3/4. That's just one of the little combos i've discovered.