Real Life RPG: Occam's Razor

Foreword:  Sometimes, when I'm bored, daydreaming, really dreaming, or attempting to procrastinate (like writing this instead of working on my novel), I imagine that life is a role-playing game.  Which, obviously, it is.  However, I imagine it to be something more like Diablo, where it is possible to acquire magic items gifted with special powers.  It sounds silly, but in truth, it is silly.  It also helps me pass the time and keeps me occupied, though, so it can't be too bad.

Anyway, here's today's random brain fart!

Occam's Razor  also: Ockham's Razor
-Dagger, one hand
-Appearance: Occam's Razor resembles a simple straight barber's razor, with no ornamentation.
-History: Occam's Razor was owned by William of Ockham, a logician during the Renaissance, who used it with great effect to "cut away the arguments of opponents." While the razor does not possess specific magical powers, it serves as a nullification device, dispelling most magical effects.  Due to these properties, the razor has been ignored by most magicians and sorcerers.  Occam's Razor was most notably wielded for a time by Abraham Van Helsing, who used it to counter the seducing abilities of succubi.
-On equip: Increased magic resistance +25%.
-On equip: Decreased spell power -75%.
-On equip: Blocks most multi-element spells.  Incoming single element spell damage is reduced by 25%.  [Example: a Frostfire bolt would not damage someone wielding Occam's Razor.  A frostbolt or a firebolt, however, would still deal 75% damage.]
-On hit: Occam's Razor neutralizes all magic effects, reducing both beneficial and detrimental spell effects on the target by 10%.  This effect occurs instantly and stacks.
-On use: Occam's Razor purges one spell effect from the target.