Strength of the Elements
AC: 15
STR: +15 HP: +100
SV FIRE: +15 SV COLD: +15
Spirit Wracked Cord
AC: 12
STA: +5 HP: +100
SV COLD: +10 SV MAGIC: +5
Runed Coldain Prayer Shawl
AC: 7
STA + 7 CHA: +7 WIS: +7 INT: +7
SV FIRE: +7 SV COLD: +7 SV POISON: +7
Effect: Flowing Thought I (worn)
AC: 15 vs. 12 vs. 7
HP: 100HP vs. 108HP vs. 11HP
Resists (total): 30 vs. 15 vs. 21
Wisdom: 0 vs. 0 vs. 7
Regen: 0 vs. 2 HP vs. 1 MANA
The Shawl does have its downsides, and maybe I'm just a tradeskill fan, but ... personally I'd still take the shawl over Strength of the Elements. Sure you lose about 89 HP, but you get more mana and, more importantly, a point of mana regen per tick. IMHO regen of any sort > max HP/mana.
The Spirit Wracked Cord on the other hand also has regen, so I might pick it over the shawl ... years from now when it's actually on the server and after I've spent months factioning in Droga
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