Well, it looks like there's not a clear consensus so I did a few tests, and I'm only kind of confused now.
First: Cave spider silk is worth the same amount as phantom spider silk (as well as pig tail cloth). The cloth itself is worth 34.
If I dye the cloth it's worth 54, or 20 more. I can also use my proficient dyer to dye the cloth and it becomes worth 134, and it's described as "exceptionally colored", that is 5x. This makes perfect sense, the value of the die is modified and added to the value of the cloth.
Now I make an unexceptional piece of cloth into a normal sock (no quality modifiers) and the resulting sock is worth 70... The sock's base worth,according to the raws, is 15. The cloth's actual worth is 34... What makes 34 and 15 become 70?
Now, I already gave the value 220 for a 4x modifier on both the cloth and the sock... so how does 4x34 and 4x15 make 220?
I also made a superior quality (x4) sock out of normal cloth, and the sock was worth 160. 34 and 4x15 somehow makes 160...
I also made socks out of the previously mentioned dyed cloth. A dyed sock with no quality modifiers is 90, or 20 more than normal. Makes sense. A 4x sock made of normal cloth with x5 dye is 260. Also makes sense, as it's regularly 160.
So I've found out that dye has quality and is simply added on to the end product, and thus socks, shoes, gloves and mittens are effectively a way to multiply your dyed cloth by two (but socks and shoes are more valuable).
I still don't know how cloth and clothes values relate...
I also ran a decoration test. Cut green glass is always 10 (cutting skill doesn't boost quality), I decorated a fox leather cap (value 10) with cut green glass. The cap was worth 30, no quality modifiers. It was worth 90 with superior quality spikes...
Somehow 10 and 10 leads to 30, and 10 and 10x4 leads to 90.
I'm missing something here...
[ November 26, 2007: Message edited by: Eiba ]