Is it possible to make a strong legacy 5 color {cromat} based deck ? Also any tips / ideas would be appreciated IE: land count, mana base, creatures ?
Use {Chromatic Lantern}
{Cromat} = too slow for competitive. I can probably list 10 decks faster. Although at one point a Cromat deck was to be reckoned with.
Edit: Cards like {Karakas} and other things being fetched by {Knight of the Reliquary}. {Force of Will} in stoneblade, sneak show and merfolk. It doesn't present enough of a board presence and is basically difficult to make work considering you need 5 colors. It could work as a reanimator target or sneak show, but is not advised.
{Dream Halls} + {Conflux} maybe? {Progenitus} works better anyway though.