Ethereal Knives + facebreaker = OP ?

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Charan wrote:

They might have affected physical spells earlier than the beta phase (I can imagine it on alpha) but there's no way it'd make that far. :)

For the record, they did not. It would actually be significantly harder to make them do so, as spell damage is not affected by weapon-specific increases at all and does not care about weapon types.

That item prefix list is currently grabbing internal stat names that weren't intended to be exposed to users originally. Some of them are mildly misleading like this because things in the game engine change function over time. I suspect we'll set up a way for them to get pretty names at some point, but for now they're showing you names which weren't set up to be understandable and sensible to players.