So, many people have been complaining lately about Smithing being overpowered. I myself agree to a certain extent. The logic behind the fact that a mentally challenged skeever can smith dragon armor after creating a bazillion iron daggers remains a bit elusive to me, but I guess practice makes perfect. Nothing fundamentally wrong with that approach, if it weren't for the endless amount of resources available to all eager blacksmith apprentices.
The skill itself is not overpowered - how could it be? - but the rate at which it progresses seems to be a bit over the top, especially with the endless amounts of iron available for those with a bit of gold. My warrior spent one hour (in real life, that is) in Whiterun, hoarding and buying all the iron available in Whiterun. Every 48 hours I was able to get my hands on at least 5-15 iron ores and 20-60 iron ingots. Result: Near instant epic Smithing skill without ever having created something useful, rendering all but my not-so-precious dragon armor completely and utterly useless.
Now, what if a modder were to drastically reduce the amount of resources that vendors sell? Say, 1 to 3 pieces of iron ore and the same amount of ingots per vendor for every 48 hours, no more, no less. Perhaps even increase the price as well. That way, without abundant resources, you can't just spam the cheapest item 25,000 times in a row in order to become a master smith. You'd actually either have to go out and mine some of the stuff, or travel from city to city/wait 48 hours to stock up on every valuable piece of ore for sale. The latter option would be quite time-consuming and downright boring; this would make Mining even more useful, as you get free ore and nice views!
Yay or nay? Note: I'm not a modder, it's just an idea that came to mind whilst thinking of ways to balance out some of the easy-to-level skills.
Actually buying stuff from merchants to smith is a legitimate approach to power.
The problem is it is TOO EASY to level blacksmithing because:
1. Ores and ingots can be too cheap.At skill level 60 or so, it takes about 2000 gold to level up your skill through a trainer. This shows how hard it is supposed to be to train up a skill. Something is seriously wrong if you can just increase blacksmithing by crafting iron daggers which only cost a fraction of that amount. If blacksmithing is meant to be so easy to level, why in the world does the training cost 2000 gold then?
This is proof that blacksmithing is currently way too cheap to level.
So the cost to level up blacksmithing by making it yourself should be a bit less than 2000 gold, assuming no perks in Speech (more on this).
2. There are no diminishing returns from iron daggers.There are diminishing returns for improving iron daggers, and it won't increase blacksmithing as much as say improving dwarven daggers. This shows that there is supposed to be some form of diminishing returns for iron stuff.
There are diminishing returns for another crafting skill such as alchemy. If you try to make Cure Disease potions at higher levels, they only move the skill bar by 1 mm or so. Why give alchemy diminishing returns, but not for blacksmithing?
This shows that there is supposed to be some form of diminishing returns in general for all professions.
Conclusion: Blacksmithing is currently too cheap and easy to level and needs balances.However, just because I want to make it harder to level blacksmithing, doesn't mean I am against grinding blacksmithing. I just want to balance it.
Power-leveling blacksmithing is a valid approach to power. There are many races that have bonuses to blacksmithing, and they deserve to be better at combat through superior equipment. Other people are better at fighting through combat skills but have relatively weaker gear, blacksmiths are better at fighting through superior gear but have relatively weaker combat skills. It balances out.
All smithing should result in a net loss, unless you take the Speech skill. If someone invests heavily in the Speech skill to get better deals, they deserve to be able to power level blacksmithing at a profit in the safety of towns, resting every 48 hours. This is because they spent perks in the Speech skill to get cheaper mats, and they will be relatively weaker than other people in combat. So they deserve this "edge".
If someone wants to spend perks in Speech in order to get a better deal, they deserve it as well.
Conclusion: Power-leveling blacksmithing by waiting every 48 hours for merchants' inventories to refresh is valid, as long as it is costly and requires Speech skill to break even or make a profit.