Some quick math behind the new Phantom Dancer and its gold efficiency
Withouth it's passive effects, the new Phantom Dancer is **74,9% **gold efficient.
**With ** Passive 1 (Spectral Waltz) the gold efficiency bumps up to a gold efficiency of 85,5%.
With Passive 2 (Lifeline) the item becomes 110% gold efficient for the duration at already a flat 250 shield which is granted if you would get Phantom Dancer at level one, and it later becomes a whopping 146% gold efficient at a 600 hp shield.
Needless to say the new Phantom Dancer's defensive capability is pretty insane considering it's an offensive item after all.