Actually the maximum quality and damage on the weapons crafted should be the work of a master blacksmith (a character maxed in blacksmith skill).
If we look at the incremental way the magic system and other skills works, then it becomes apparent that progression in blacksmith should be an incremental climb, starting with basic swords and other weapons that have maybe two times basic quality as a start, and ending with the weapons that hit like irons with the maximum quality rating.
So, a first level blacksmith could produce a short sword at 100 quality, that hits maybe twice as good as a regular short sword, but the process of then going to the maximum damage and quality would be a long, incremental climb.
If anything, tweaking the numbers in that direction would produce a satisfying experience to a weapons crafter, and it would help to bring the market back in line.
Unfortunately, before Black Monday, the weapons prices in game were out of control. Vast sums of tria were being traded with no basis for knowing what a tria or a weapon was really worth. An economy must have a perspective, in other words there needs to be a solid low and high for values.
Factoring in slash and quality on NPCs that trade in weapons, so that a Silverweave is not only worth 160 tria (or whatever it is) from Harnquist, would at least give us a starting point. I have always thought of value as starting with my own valuation of 10k per slash (and that is LOW compared to what I have seen in game).
(Of course everything posted on this board is IMHO. Please don't argue, just work the ideas, TomT will take it from there. This is just my two bits.)