Originally Posted by
Riboe
I wouldn't even consider it a luxury item. Especially if you don't rush it.
Late game it's crap, compared to many other items, because you're not going to be spamming Hate Spike. You'll be going in, bursting a champion or two down, then get out.
During the laning phase it's decent, because you'll be spamming Hate Spike and harassing. But then, when you go into late game, you'll be better off selling it in favor of another item and then you'd have lost a lot of gold.
I'd rather build a good/great item as the first item, instead of building a decent item, then selling it and build a good item later on.