As long as this discussion is still about Planeshift and not yet totally off yet, some note to add:
Firstly, I agree, "master crafted items" in the given definition could be easier to handle - but since that phrase is pretty rough there obviously are other definitions as well, and its nothing said about which would fit the mentioned rock pick ingame. I dare to shoot Windows and Linux as examples - In fact I consider Linux more evolved and advanced than Windows, take it as an equivalent to "master crafted" if you want. More powerful and versatile, but harder to control or handle.
Back to Planeshift, I just like to look at the Mastercrafteds, when used with a certain and special technique, to be more efficient, while common picks just have an average efficiency, no matter how you swing that thing. Making Mastercrafted requiring less skill than common ones would of course be plain stupid, because it would mean the common ones would have to be added a requirement at all - so telling a newbie to take that hell of a quest to get his first rock pick he would be able to use would be nonsense.
Mastercrafted Rock Picks should have some skill bonus, like Mining +10, the same time require certain skills, I could think of a combination of Agility and Strength (or a mix of physical and mental stats), for keeping it straight and easy.
Sidenote: Are those Mastercrafted Hammers useful for smithing meanwhile, or still bugged? Same would apply here of course.
As for the ingots and stocks, actually a good question - I could only think of it may be more difficult to have the product as pure, perhaps also about keeping right temperatures or some such, just more experience. I wouldnt mind hearing officials comment on that.
Money is another nice point - given in the setting is that richest merchants introduced their own currency, platinum coins, worth of 1k or so - now, I would recommend to either correct that, deleting it from any description that is, or make platinum rare as its meant to be (at least according to the mentioned texts - cant get arsed to link to it though). As it is at the moment it conflicts (or just 4 of 5 people belong to the richest people).
Thanks for taking the time to read this, now you can go back nitpicking about Game Boys and PCs, quality per se, neater looks, nicer sounds or whatever.. =P