I love the golems from Jewish lore, but I don't know if they fit with Dwarves. Dwarven Golems, in most fiction, are more like mechanical constructs. They're a shell that's either powered by some kind of clockwork or magic, or some in-between form of "magitek." The Talmudic Golems would be excellent for human civs, though.
My idea for Dwarven Golems is this:
First, two separate types of Golems: Worker Golems and War Golems. Worker Golems can only do simple tasks like Hauling and Pump Operating, but never need to eat or sleep. They can fight, but won't be much of a threat to an armored foe. War Golems can't do anything but kill stuff, but can be extremely powerful depending on components, also never need to eat or sleep.
Armorsmith builds the body. Quality and material type determine how effective its armor will be.
Weaponsmith builds two weapons, one for each arm. Same rules apply as with regular weapons, quality and material determines effectiveness.
New "Golemancer" profession puts it all together using silver/gold/platinum and assorted gems. His skill level affects the behavior of the Golem. IE, with a Dabbling Golemancer be prepared for a psychotic Golem to start rampaging through your fort immediately. Building Golems increases his skill level, and eventually a Legendary Golemancer will be able to make a Golem that won't ever go on a rampage... if he lives long enough to acquire the skill. Higher-value precious metals and gems will also result in more stable Golems.
In addition to the precious metals and gemstones, Golem-making would also require sentient sacrifices. It's Slaves to Armok, God of Blood, after all. Worker Golems would only require a sentient prisoner, like a Goblin for example. War Golems would require, say, 4 Prisoners and a Dwarf. For Worker Golems, any GoblinElf/Human/Kobold (Or Dwarf if you've got a lot of Chessemakers or Fish Cleaners hanging around drinking your booze) will do. Quality of the parts is all that affects their performance in hauling/pump operating.
War Golems would a different beast altogether, though. In terms of their combat skills, they get the skills of the Dwarf who is sacrificed. So if you want an awesome Double-Axe Golem, you're going to have to sacrifice an Axe Lord. Once created, the Golem can't learn, so the initial skills it has are all it will ever get. Could even take it a step further and have the skills of the PRISONERS factor in, make it a weighted average like (Prisoner Skills)(4 x Dwarf Skill)=Golem Skill, so for a Legendary Axe Golem you'd need FOUR Legendary Axegoblins and a Legendary Axedwarf. This, plus the difficulty of getting a decent Golemancer who doesn't get killed off by his flawed creations, would keep you from amassing legions of Legendary Golems easily. Could even have it so your Dwarf sacrifice gets cold feet at the last minute for added Fun... have that happen if he doesn't have the "doesn't care about anything anymore" tag. Basically, you'll need to fortify your Golemancer's Workshop as heavily as your front entrance if you want to do some serious Golem-making =p
So, breakdown on Golems:
Pros: Don't eat, drink, or sleep. Heavy armor, no organs to stab or brains to crush in, powerful attacks. Don't die of old age.
Cons: Can go crazy and slaughter your people if the Golemancer's not skilled. Can't heal or be repaired, lopped off limbs stay that way (the materials are magically animated, so you can't just slap on a new arm). Need high-quality components and highly-skilled sacrifices to be effective. Can't learn. Can only do specific tasks.