Specter's Cowl is too strong

...as a first item vs AP top laners, at least. It has every stat you could possibly want in a defensive item: health, resists, anti-poke regen. Since AP top laners have a tendency to have early harass, this item completely negates any advantage they'd have.

By AP top laner, I don't mean Maokai or Malphite. Those are tanks. I mean more along the lines of Vladimir, Ryze, Lissandra, Rumble, Kennen, Teemo. They all rely on their harass in order to do well. They're basically balanced around it. This single 1200 gold item makes them largely useless.