Hmm... The lack of natural weaknesses is greater than a Warforged, and the NA and resistances knock it up again. I'll tell you what, play a wizard or another int based class, 2 LA. Otherwise 1 LA.
(I'm looking at other 2 LA races for comparison. I'll admit it's bit low powered for a regular 2, but the race would make a nasty wizard, especially considering the polymorphing into other outsiders trick.)
The lack of natural weaknesses compared to Warforged is a bit of a problem, but the NA and the (in my opinion) rather pathetic resistances seem to me to be a little under-par compared to a Warforged's natural attack and built-in Light Fortification. The Vulnerability to Surprise and need to have clothing and armor custom-made balance out the other racial traits, though, and the attributes are balanced, if geared towards Int- and Con-based classes.
Hmm. If we were to toss on the Extraplanar subtype, (which does nothing but make you vulnerable to effects that affect Extraplanar creatures, such as Dismissal and Banishment and other such things,) would that be enough to balance things out? The people who wrote Magic of Incarnum certainly thought it was enough to balance out making Dusklings LA+0 Fey... It also fits the character, since technically she's native to Mechanus in the first place.
(Most creatures with LA have the LA horribly overpriced, however. Case in point: The humble Blue
. ^^; Additionally, Modrons aren't Outsiders, they're constructs, so that trick wouldn't be available. And if I make this character a Wizard, she'll be a Conjurer anyway, not a Transmuter. She'll probably be a Psion if I make her any sort of Caster at all, though.)