Ok, ok, I know, I voted for the one I nominated.  But wait, I have sound reasoning behind it.  It is the ONLY card that I have never put into a deck.  I have used every other card listed, to a moderate success (yes even Farmstead).  Back when Magic was new, usually the only COP that was not put in a deck was COP: White.  Thus I used the Purelace as a splaxh to get around it.  Farmstead was one of the few major life gainers in its heyday.  Also, from the same perspective, a 6/6 creature back then was something to be reckoned with.  Power leak was always a fun little surprise, and Word of Command was a great pull (before it got immediately restricted!).  Thus, my nomination and subsequent vote went to Lich.  The only time I ever saw it in play, the guy using it got beaten into submission quickly.  Never saw the advantage to that card, no matter what the situation.