(im speak spanish, so excuse any mistakes in here, please ^^)
this problen about wats realistic, or wats fun, or wats fair, about weapons,....well as i read i see there are people who is confuced about how woud it work if it was real, wat i mean is, the amount of weapons is proporcional to the violence of the enviroment, that plus the amount of metal, so....... the amount of weapons should be limited to the amount of material for them, also wen you kill a monster and he drop a weapon, it has to be something the monster take from another player........but wat happens if theres to many weapons, i mean if they are created by players, the amount may overflow, you could find weapons lying in the floor of the library, or behind a simple barrel....well to fix that, lets make the weapons brake by ussage, also if there is a metal eating monster, or a group of weapon and item stealing monsters, well....theres a lot of posible solutions for the balance of weapons, but the main idea is that they dont have to be expensive, they have to be limited (and of course, if theres no much to sell, the prices will go up, and if theres to much, the price will go down). ahh, also....weapon smithing should be hard, i mean from 20 pounds of iron, you make a 10 pound sword, the rest of the iron is wasted.....to add to it, it also should cost more than just the metal, in some cases wood, bones, and some clothes should be nessesary. but not weapons spawning by hitself....