Athene put out this video today on how to basically abuse the new ELO system. Basically he says you can actually skip divisions if your hidden ELO is high enough because essentially your ELO is still there. Some ways of doing this is dodging. Dodging lowers your LP but he believes does not lower your hidden ELO which everything is still based off of. Therefore when you win your next game after a dodge your LP is not as high as it would be if you just won the original dodged game but your ELO is still just as high. He also mentions dodging series games. If you start off 0-1 in a series it is better to just dodge and cancel the series to keep your ELO up but your LP down that way you can possibly skip a division.
Video Link Here : How To Hack The New Elo System - YouTube
My opinion: This definitely seems interesting and I am definitely going to keep my eyes on this. This could save you from a lot of games just by dodging trolls and shitty comps. Losing LP seems like such a hard hit but if what Athene says is true than it is actually a bigger benefit than loss. If you work this hard enough and it turns out to be the truth than you definitely can abuse this and skip divisions. BTW some people think LoLking's ELO is correct it is not. I have a feeling some people are going to include that in their response but LoLking's ELO is not your actual hidden ELO it is just what your ELO would be based off your league and division. Meaning any Gold 4 player at 63 LP will have the same ELO as any other Gold 4 player at 63 LP because it is just based off where you are not actually what it is.
Hope this helps some you ranked fiends like myself.