Hm, perhaps another way of explaining my problem:
What if Beth had put a single cave somewhere around where the player starts (or that a player is led near by an early quest in the game, something like that), and in this single cave is all of the best loot in the game. But the cave isn't called "ALL THE BEST LOOT Cave" or anything, it's just a cave. So you go in the cave and you stumble upon a sword laying around. You look at it and go "woah, this sword is way better than mine" So you take the sword. It's ridiculous imo at this point for the character to say to themselves "well, I don't know... this sword looks a bit too powerful if you ask me, maybe I should wait until I pick it up". It feels completely natural to pick up the sword. You go deeper into the cave and this repeats. You find armor a lot better than yours, and then a helm, etc, etc. You go through the cave and grab the stuff that's an improvement. The enemies in the cave weren't particularly tough or anything like that, standard stuff you'd expect to find in a cave at this point. Then you leave, and you think to yourself, "well that was a nice cave, I got a ton of nice loot." Then you go on with the game and you realize that all the loot everywhere else you go svcks. You have no incentive to really go in caves anymore because they don't offer much. In hindsight you realize that going into that cave was a bad idea. On your next character, when you come across the cave, you're probably not going to go inside, because you saw how it made the rest of the game not as fun. It doesn't change the fact that putting the cave there was a bad idea in the first place.
Honestly? I'd probably wave around some of the stuff, decide that I don't want to skip to end-game junk, and either stick it back in the box or stash it in my house.
How do I know I'd do this? Because I have before.
Sometime waaaay back near the first time I played Oblivion (or maybe Morrowind?), I made the mythical 100% chameleon suit. Turns out, it was pretty boring. I threw it in a chest. Ditto with many of the armor mods I've tried for Oblivion - the mod makers frequently include really overpowered swords & similar things in their mods. I ignore them.
Skyrim? I actually found an Ebony waraxe when I was in the low 30's, in a dungeon chest. I was using an... elven?... sword at the time, improved to exquisite, I think. Axe was much better. Even with it being completely legit "random loot", I stuck it on one of the weapon plaques in Breezehome. Why? Well, for one, my character wanted to use swords, not axes. But secondly, I didn't want to skip ahead that far. :shrug:
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And I'll say again, I don't buy this whole "Smithing great armor early removes any desire for exploration and loot". Unless you're talking Daedric at level 10, that's bull. Without high-level enchanting, enchanting boost potions, and grand souls, you can't match the enchanted gear that you find in dungeons. Those enchantments can be quite important - certainly more important than mere armor rating. (Which is why, for instance, even when my high-30's character gained the ability to smith Glass gear, I was still wearing my +archery damage Hide Bracers.)
Say I am roleplaying a warrior who smiths. Is this feasible without breaking the game? Smithing is not a cheat in the game, it is a skill. As such, it is intended to be raised. It should therefore be feasible to specialize in. If I cannot specialize in smithing without ruining the game, the developers have not "given me the freedom to be overpowered", they have removed my freedom to play the game with challenge. Note the distinction between using mechanics as they are presented and intentionally trying to ruin these mechanics.
Example of intentionally breaking mechanics: finding a wall in Oblivion near a guard and sneaking while walking into the wall for hours to raise your sneak skill. This is clearly against the spirit of how the skill is supposed to be used. As such, the fault lies with the player. Why? Because if the player uses the skill normally, they will not become overpowered, and the skill will not raise too quickly. Both of these reasons are important if you take the time to contrast them with smithing.
Example of broken game mechanic: Playing a warrior who specializes in smithing. How should such a character play using the game mechanics? They should smith regularly. What is the result? They level smithing ridiculously fast and become overpowered. If using the game mechanic as such will result in breaking the game, then it is not the OPs fault for trying to level smithing.
I leveled smithing "as I played" / "regularly". It didn't level ridiculously fast - I only gained the ability to smith Glass in the high 30's (about the time I was finding it), and I didn't hit 100 until the high 40's.
Because I smithed using the materials I'd found in the world.
Your example, of leveling sneak by auto-running into the wall behind an immobile NPC? I would put powerleveling Smithing to 100 by repeating "Buy ingots, Smith daggers, Sell Daggers, Wait 48 hours, Repeat" in the same catergory.