Just played a game as Spectre and tried a build other than "Get a Radiance ASAP"
http://www.dotabuff.com/matches/1522440571
Honestly, Spectre has always been a strange hero. Seemingly a very abstract concept in general of how the hero is played. I mean, when I first looked at the hero when I started playing, I was like "This hero's ult seems kind of cool, but otherwise seems kind of useless early game." Now granted I understood how the hero was considered a carry, but actually using the hero effectively is a whole different beast. I'm starting to understand it a bit better now.
If I had to come up with a name of the type of carry Spectre is, I would call her an "Existence Carry", as the idea is to carry basically by existing. Early game is usually pretty rough unless you are somehow snowballing, however once again, the idea here is to build stuff here to SURVIVE. I always crapped on Vanguard as an item in general (especially before Crimson Guard was a thing), but honestly, I underrated it on Spectre. It effectively can be a farming item as basically it allows her to either survive what's coming at her, or tank jungle camps. Yeah, it doesn't offer much in the way of aggression, but that's not what Spectre does.
One thing that is straightforward about the hero is that pretty much her entire strategy is to just farm farm farm, and Haunt in on teamfights. The items you want are either tankiness or stuff that benefits Illusions (Diffusla, Butterfly, etc.).
Honestly this hero has always been an abstract thing to me, and I understand her a lot better now, although there are still some aspects that are a bit weird.
One thing that still puzzles me: When do you actually decide it's worth buying Radiance on her, and when do you buy it if so? Do you get it just immediately? (Brown Boots into Radiance) or get maybe Vanguard first?
Hero's a little weird, but I have a newfound reSPECT for her.
I love Spectre! I've been carrying a lot in our little 5 stack and Spec is one of my favourites. I used to ALWAYS max dagger first and didn't really think of trying anything else, but recently have taken to maxing desolate instead, with one in each of the other skills. It lets you do a lot of damage early on if you can get it to activate while smacking someone, and makes you somewhat dangerous while still having a value point in disperse and a dagger point for escaping.
Desolate doesn't seem like much at first glance but being true damage makes the values a little misleading. Dagger only gives you a little more speed difference and a bit more damage for each point, which doesn't do a ton for a skill you will be using to escape over terrain with and can only cast a handful times due to the mana cost. With 4 in desolate at level 7 your illusions can hit pretty damn hard right out of the gate if your enemies are positioned incorrectly.
I might try Vanguard again sometime, but I find that it just slows down your other items, even just the RoH is such a bummer to have to get some games (but sometimes you need it). Especially if you max dagger, you are just useless for a big chunk of the game when it doesn't have to be that way. Radiance is different beast and it's best if you can get it fast, which I think is the advice that goes for lots of heroes that want that item. I think before vanguard if you can swing it, but obviously if you are being pressured that can be tough. I tend to view radiance as a farming item so the earlier the better if you are going to get it.
I usually go phase, Orb of Venom, then go right for diffusal or sometimes directly yasha --> Manta. Manta is kind of expensive to get right away but it's just ridiculous with desolate if you can activate it on someone successfully. Lately I've been getting Skadi after that which is amazing for chasing and helps a lot with HP/Mana, but something like heart is also very good.