The designing of this IoP spawned it's own thread. This is the final result.
Jabbewock's Bane - The Vorpal Sword
Before Anatasia Luccio was born in Italy, the Wardens of the White Council were led (at least for a time) by Sir Antonio Alighieri, also a Knight of the Poor Fellow-Soldiers of Christ and of the Temple of Solomon aka The Knights Templar. A regular Mage in Shining Armor, Alighieri's family were infamous and daring explorers of the Nevernever. Antonio's relative Dante made it big in the mortal world when he wrote about his journey's through several demenses (Which drove him to insanity).
The Wardens at that time needed to compete against similarly armed Warlocks and the nights they most likely had Thralled into their charge, so their process of making their own Warden's Swords were slow, intimate pieces of dedication. Now, the Knights Templar were the Delta Force of their day, which means they naturally had the best gear. Sir Antonio's Sword was no exception.
His sword is like any Templar's Sword, 48" long and used to be covered in images of Christianity. That changed in 1307 on Friday the 13th. Sir Alighieri got the hell out of dodge and got the White Council to give him protection. Subsequently, the sword stopped being holy, but didn't stop being one of the sharpest edges in the world. His sword was standard for his day, it was just magical and stuff and had a few centuries of power forced into it.
Some time after Friday the 13th, Commander Alighieri went out to regain his lost honor. He heard of a dragon that lived in the Nevernever and went to slay it (it was the cool thing to do at the time). He wasn't heard from again until the late 1800s when the Faeries told stories of Sir Alighieri's Triumph over the beast he sought, the Jabberwocky. His story got stolen and published... But the sword remained. Even though it was hardly a unique sword, the enterprising poet did Name the previously unnamed sword, The Vorpal Sword, Bane of The Jabberwock.
In his first Adventure, Johann Sebatian Basset, the Warden "Pup" sought the legendary sword to prove himself. He found it and Alighieri's corpse next to what killed him, another Jabberwock.
What can the sword do?
Commander Alighieri long ago accepted that he might fall during battle, so he made his sword accordingly.
Who can wield it: A Warden or deputized Wizard of the White Council in good standing(Somehow it knows this.). If Harry tried to pick this thing up it would slip out of his hands and it would laugh at him....
Its Purpose/Nature: To Uphold the Laws of Magic, to Protect the Innocent under the charge of the Council and to Serve the White Council of Wizards. In that order.
How can it be unmade?: The Sword can be a tool of Politics of the Council and sacrifices of innocents can be made for the sake of many with it no problem. To unmake the Sword, one must use it to break one of The Laws of Magic.
Item of Power - The Vorpal Sword, Jabberwock's Bane [-2]
(obviously a sword) [+2] Pup keeps the sword in his Cello case.
Refinement [-1]: 4 Enchanted Item Slots. It counts as a Warden's Sword with 5 uses a session.
All Enemies Die The Same [-1]: Basically identical to All Creatures Are Equal Under God YS168. But Aligheiri stopped being a Christian in 1307, so this ability reflects how sharp the sword is and how it is out to get you. If this ability costs more, the designers should have said something.
Worldwalker[-2]YS171: Yes, sharp enough to cut through the fabric of worlds. The Alighieris loved to traverse the Nevernever and swords like this probably saved Dante's ass when he went through the Underworld.