I have spellstrike hood/pants, then T4 shoulders and gloves. So I get both bonuses. I've passed on the T4 helm a few times, but a meta socket could be very nice.
I'm still at a point where I need lots of spell hit through gems, so a meta like MSD is out the window (steep gem requirements).
Ignore the glyph of power, since you'd get that on either, and compare both pieces.
Spellstrike Hood
16 stam
12 int
-- 9 spell dmg
-- 9 spell dmg
-- 9 spell dmg
-- 0 socket bonus
+16 spell hit
+24 spell crit
+46 spell dmg
T4
39 stam
36 int
-- 14 spell dmg (meta)
-- 9 spell dmg
-- 4 hit rating bonus
+19 spell crit
+40 spell dmg
16 stam, 12 int, 16 hit, 24 crit, 73 dmg (Spellstrike)
39 stam, 36 int, 4 hit, 19 crit, 63 dmg (T4)
Thats actually closer then I thought. Personally I didn't gem my spellstrike hood that way at first, I liked the flexibility of more gem colors, but now that I made up my spell hit through other sources...kind of wishing I got the T4 helm instead. The damage isn't that far off at all, the additional stam and int is quite nice, and you have more flexibility in choosing T4 pieces for your future upgrades to T5.
Add the fact you save a solid 1000g by not having to craft the spellstrike hood. T4 shoulders + gloves work pretty nicely for a set bonus, but...odds are your first piece of T5 will be shoulders off VR. So your first piece of T5 might break your 2pc set bonus of T4, which would be sad.
In the long run, I probably would have been happier with T4 helm and gloves to start. Then my first piece of T5 would have been shoulders, and I'd still have a T4 bonus.
Edited, Jan 24th 2008 8:44am by mikelolol