It is not just early data.
At 3k gold it is considerably stronger because you have it finished already now.
At 3.6k gold the difference between the 2 is as follows (I use +20 AD for 600g from lang swords). I ignore the AS because it is the same and won't use runes which help the new one a bit:
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old: 35 AD, 50 AP; 53 AD, 74 AP at max stacks
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new: 45 AD, 25 AP; 56 AD, 31 AP at max stacks
So the differnce without stacks is +10 AD for -25 AP. Most champs like Yi, Kog and Varus take that trade. Varus 25 dmg on his R and 1.5% of the enemies max HP on 3 stacks but gains +4 dmg per AA, +10-15 dmg on his Q and +6 on his E which means he is fine with it, not really better or worse.
At max stacks the difference is +3 AD for -43 AP. That is now a nerf. But considering you have the item 600g finished more early and it is even without stacks this is just to not make it even stronger than it was before.
And now we could look at Yi and how he stacks it faster (AA->W reset+AA->AA->AA+P+full stacks). He cares even less about the AP. He uses mediate only in the jungle to heal a bit early on if needed and then use it mid combat as an AA reset. So he has 0 AP scalings he cares about and the item is still great on him. For him it was a direct buff to speed up his item build significantly while also making the AP loss something he doesn't care about.
And Kayle? the only one that really wanted the AP? She loves the 600g faster version to gain early and control the wave better with her +50% E power.
Now I would not go up by 300g just like that. 200g and -5 AP. Why -5 AP? The items base stats are exactly the stats of its components except the AP value. The AP value is also the one that is the least needed on the item and most abusers don't care much about the AP (kayle and Jax are the only 2 that want the AP. Kog and Varus like it but they don't need it. Yi doesn't care about it at all). 990g is also a huge combination cost, keeping it a bit lower if possible should be a goal.
If that is still too strong, then still leave the 5 AP away and go up to 300g combine cost.
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