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UPDATED
What powersaves CAN do:
>Clone (Up to a whole box at once)
>Shinify (Up to 10 'mons at once, but 'mons that are shiny locked can't be traded back to you. Also can't be nicknamed afterwards)
>Make anything 6iv (Up to 10 'mons at once)
>Change any IV to 0, 1, 30 or 31 (One 'mon at a time)
>Natures (One 'mon at a time)
>Get you items/berries, although they may say no to multiples as they'd have to trade you as many >pokemon as you need of that item.
>Unshinify 'mons (One 'mon at a time. The OT will become the powersavers, but still can't be nicknamed)
>Change form of Floette, Pumpkaboo/Gourgeist, Vivillon, Shellos/Gastrodon, Basculin, >Burmy/Wormadam, Deerling, Furfrou, Unown (You can change genie and deoxys form in game)
>Change the region of a 'mon to US, UK or JP (One 'mon at a time)
>Change balls (One 'mon at a time)
>Give pokemon pokerus (One 'mon at a time)
>Generate event 'mons from gen 6 that have happened (Recent events will not likely be able to be done shortly after launch)
>Can change any EV stat to 252, 0, 126, 63, 30, 4, 2, 1
>Can generate eggs (current configurable settings are the Pokemon generated, Shininess, EVs, IVs, Male or Female (no genderless just yet), nature and ability (Ability 1, Ability 2 or Hidden Ability))
What powersaves can NOT do:
>Change abilities
>Generate 'mons for you
>Get certain moves
>ID/SID/PID
>Nickname
>Ribbons
>Edit location caught (i.e. route 7, but I want route 10. Born in Kanto, can't change to Johto)
>Specific levels