I want to be more constructive in my feedback about these two summons in specific, but I just. I cannot. It's been a pretty long time since Mordenkainen's Sword was changed. Thanks to it being tacked onto Elementalist as a 5th level spell, it no longer serves its function as a 7th level spell for wizards, as it is so inferior to any other option out there.
For all of its immunities, it hits like a wet paper bag and sequencers hardly help it. It's what you use if you're given literally no other options as an elementalist, and it's entirely forgettable as a wizard or a sorcerer. This is pretty disappointing, as it could clearly fill a pretty interesting niche, as well as help elementalists out by giving them an alternative summoning option to elementals before they get the bigger, more powerful ones.
Additionally, it's one of the only summons that has a turns-per-level duration. This means that you need to cast it extended as an 8th level spell if you want it to reliably survive through one of the longer dungeons on Arelith, since the levels you're likely to use it at are from 14-22.
Mord's Sword used to have a cute gimmick where you could enchant its weapon, but this was taken away from it, and this has contributed pretty heavily to its decline, since after the summon update went through, this functionality was not preserved, meaning its damage is subpar.
I know that Mordenkainen's Sword was rebalanced for Elementalist, but I think this was a mistake. It would make a lot more sense to balance it as a 7th level spell, and more importantly, tune its stats accordingly. I'm aware the team probably doesn't want to make any tweaks to summons they'll have to revert later, considering there might be a rather large shift in how summons work eventually, but I strongly suggest reconsidering for this specific instance. It's a dead spell in the sorcerer/wizard spell list, not worth considering over other options in almost every single instance.
Okay so now the blood homunculus. Same problem as Mord's Sword in a different package. The T3 homunculus should be pretty powerful, considering how much setup is required to actually -achieve- it, which has been made harder for Hemomancer, unless -that- got fixed, but what you end up with is a subpar 9th level summon that's worse than elementals because of its bad AC and bad AB. Despite its incredibly high healthpool, using this thing in a dungeon means constantly micromanaging it to keep it from being shredded by a group of five or so enemies. Even with improved invisibility from a sequencer, it gets shredded relatively quickly, due to its low AC. Although it hits hard, if it gets surrounded by more than a couple of enemies with blindfight -- which becomes increasingly common around the levels you'd -have- a T3 homunculus -- it crumbles to dust. This is on top of its timer, which can be almost an hour long, sure, but for people who -can't- get the T3 homunculus, it's under half an hour, which means if you want to use the homunculus in a dungeon, you better hope you prepared enough spells to buff another one.
And sure, it's a 9th level spell, so maybe it shouldn't be as powerful as PC or Mummy Dust, but in order to achieve T3, you almost -need- to be level 30 and hit a very specific threshold on sorcerer or wizard with your stats, then, perform some absolutely delusional temporary HP gymnastics, and on hemomancer, you have to make sure that your HP exceeds a certain cap, or it's a no go. Additionally, Hemomancer doesn't want the transmutation foci, so it probably won't benefit as much from T3 homunculus anyways. So for both types of caster that can use it, neither can get the most out of it without some -considerable- sacrifice. Sacrifice that would be wasted on a subpar summon. I want to like the homunculus, because it -looks- cool, but it simply does not fill a niche for any caster that has access to it. I say that as an evo spec who is currently using summoned shadows, because they're, ironically, much tankier and have more sustain than the blood homunculus due to their high concealment and IKD spam. They do require more babysitting due to their low HP pool, but they're infinitely more replaceable, as well.
Really, neither of those summons need to change. It doesn't change anything about how I'm going to play right now, but they're both interesting visually, and could be good options for wizards who want to use them, and help bridge that gap for specialists who want to not be necromancers, and perhaps can't rely on illusion foci because it doesn't fit their build. As it stands, they're just two worthless spells in the wizard, sorcerer spell list, and they could really use some tweaking to make them options that are attractive enough to want to run in even PVE.
Edit:
If Mord's sword intent is never to be rebalanced to use for wizard/sorcs, another option is to just take it off the wizard/sorc spell list and be done with it. Otherwise, as far as I'm concerned, all complaints about how bad it is are valid.
Edit 2:
I forgot about the lesser planar binding spells and yeah, those are pretty awful, too, but so forgettable, because anyone who can summon those can also just use summon monster, so my experience with them is pretty limited. I apologize.
Edit 3:
I just wanted to make a third edit. And now you have read it. With your eyes. Probably.