Item of Power and Enchanted Item in one?

[Barodahn]

I am trying to stat out sometimes like Spellbreaker (just for fun) (from Steven Brusts Vlad Taltos series).  It both protects from magic and can disrupt.  At first i just wanted to make high counter spelling, but that can not be used reactively...so seems that the best way to do this is to use physical immunity to magic and then enchant it with counterspelling?  The question is is this legal?

Takes the form of a gold chain.
+1 -Item of Power bonus
 -8 -Physical Immunity
+5 -Catch, Not mortal magic
+1 -Requires a skill roll to intercept incoming magic and protect himself, (as defense perhaops? does this work?)

Enchanted item portion, for this example using logical numbers, if made for actual character would be different perhaps. So being made by a master crafter, going to assume at least epic lore, then lowered by one to be usable by others so counterspelling effect of +6 before bonusus, usable once per day.   
Specilization of at least +2/+1 (2 strength, +1 frequency)
(this is really conservative actually, with focus items could go much stronger)

Gives us +8, usable twice per session.  apply 2 additional slots = +4 uses per session.
 
Final Stats, +8 counterspelling, usable 6 times session for a total of 3 enchanted item slots.

also is there a way to make this counterspelling effect at an item of power bonus instead? simplify it a bit? How would one do that so that existing spells can be broken too.

Thanks for looking and the input.

[Deadmanwalking]

The basic concept is fine (though the skill roll to intercept magic seems wonky to me), such Items are certainly possible.

The Craftsmanship level, however, is both excessive and ridiculous. Luccio is a notable Crafter, and nowhere near that good. Assuming Lore at Superb, the same Specialties you posit, and only 2 Enchanted Item Slots, it winds up a 7 shift Counterspell, 4 times per session, which is powerful, but a bit more reasonable.

[Barodahn]

Agreed, the power level is wonky, as i tried to imply but failed, that would have been about book level power (it is essentially an epic level, plot device powerful item), not really appropriate for Dresden world, also the skill use was to limit it to not being ALWAYS functioning, since it had to physically intercept the spell, not just be on the body is what i was trying to figure out a good way to replicate

Is there a better way to phrase?
How about
Spell Breaking
+1 (or +0 now?), you may use your weapons skill to dodge magical effects target at you (so anytime you "dodge" the magical effect is nullified by the physical immunity to magic? if you fail to dodge, you get hit)