Alright, I have an idea for the weapon price balancing.
Why not have the weapon's base price be it's damage in the raw files? Then, based on material we raise it that percent of the bonus it does. The raise it the percent extra that it's craftsmanship does. I'll give an example.
Say you want a masterpiece adamantine short sword.
Short sword damage: 100
Adamantine damage bonus: 500% (Or x5.00)
Masterpiece damage bonus: 200% (Or x2.00)
Multiply those all together and you get exactly 1000. You technically can do it, but it is going to unleash such unholy power that it is the only thing you get. Or you could spread out your funds and get a bunch of basic cheap armor and weapons and be all around "ok." Or you could deliberately get crappy material stuff to lower the price and get skills also.
Just an idea, certainly won't be offended if you don't like it. I'm looking through the wiki right now for the armor stuff and might make a hypothetical armor price formula as well (especially if you like this one).
EDIT: And here is the wiki page I got the info from, about 3/4ths down it.
http://df.magmawiki.com/index.php/Weapon#Weapon_statisticsEDIT: Really, I think this formula could work for most everything as the damage increase and the damage reducer works on the same scale.
http://df.magmawiki.com/index.php/ArmorIt would work out most cleanly compared to other methods. A uniform formula for everything is much less confusing than a bunch of random formulas to work through...