Disclaimer: I invite all experienced crafters to throw in their two-cents on this. The topic can be very subjective, so the more input, the better the result. I will be posting a thread for each skill that can craft with runics. I also intend to post how to GET runics (there has been a trend lately on these questions. Of course, any contributions that save me the research will be MUCHO appreciated. Please post in a separate thread, I will stickie as they are completed

Another resource: Uo stratics.com Blacksmith forum (Scroll down to Dracko's Weapon and armor guide posts. These are GREAT posts!)

The basics:

Luck:
Luck has no effect on runic crafting results. This has been stated, re-stated, researched, rebutted, revised, revisited and refuted.

Talismans
Talismans have NO effect on the quantity of properties, or on the intensity of the properties. They ONLY effect they have is on your exceptional chance.Talisman properties are
% success
% exceptional
Each can have a maximum intensity of 30%. This is added DIRECTLY to your displayed % chances, but is not displayed.
You only receive this bonus if you can a) have at least 1% chance to suceed and b) have at least 1% chance to craft exceptional.

Arms lore
With the recent changes to arms lore, you get 5% extra resists (random to which resists) for exceptional crafted armor, or 5% DI to exceptional crafter weapons.

Eating
Another semi-myth. Many people have suspected a link between eating and success in getting good runic results (or enhancing, skill gain, and damage in combat, more on that later). There is no proof, one way or the other, that eating has any effect in game. Devs say no, players say yes. Anecdotal evidence suggests that there MIGHT be an effect (how's that for confusion). If it makes ya happy to eat, eat. Best bet, dont stuff yourself, stay at satisfied.

Skill
In runic crafting, skill has no effect on properties, or intensity of properties. A 20 smith can use the runic same as a 120 smith, with the same results. Just the chance of exceptional is a whole lot different. Especially on lower runics, you definitely want the DI bonus from an exceptional weapon.

Ancient Smithy Hammer
Again, in runic crafting, this only affects the chance of exceptional. If your displayed chance of exceptional is at 100%, then dont waste charges. Or use a lower end hammer (+15 or +30) instead of your +60.

Chance of exceptional
So, we have narrowed down the variables in runic crafting to just one area. Chance of exceptional. How do you make sure you have the highest possible %? Well, we have already discussed both above, but will draw em together here.

1. Easiest way is to use the uo.stratics.com smithing calculator. This does NOT take your talisman bonuses (if any) into account!
2. Check your paperdoll, if you have an Ancient Smith Hammer (ASH) equipped, take it off. The ASH, since it directly increases skill, will affect your displayed excpetional chance.
3. On the smith crafting menu, click the icon to the right of the item you are making. This will show your BASE exceptional chance.
4. Now with the base chance (you DID keep the ASH off right?), add in the exceptional and success chance from your talisman. This is added directly. (ex. You have 75% chance of sucess and 25% of exceptional. You equip a talisman with 25% chance success, 25% chance of exceptional. You are now at 100% chance of success, 50% exceptional; even though .)
5. If still below 100% success / exceptional, equip your ASH and recheck(from lowest to highest if you have the hammers for it, so as not to waste charges).
6. A GM or better blacksmith's crafting bonus and arms lore bonus STACKS with additional armor resists from a runic hammer. You get a bonus 6% for exceptional armor, PLUS you get 5% resists for GM arms lore!

Types of runics and use
For a comprehensive list of runic types and the range of intensity per property, refer to this link in the uo.stratics.com blacksmith forum
Common use
DC and copper - Hope for major or super slayer (dragon, ogre, demon, undead, repond, elemental, etc)

Gold & Agapite. CAN get good weapons with good mods, but this is really producing a BETTER class of slayer. Can be used to produce high resists armor that will fit into an all 70's suit (58.3333 avg resists per piece in a 6 piecee suit) with decent mods

Verite and Valorite. Any armor made with these is considered a waste of a charge. These hammers can produce some of the best weapons in the game.

Using the runic:

1) You can either have it equipped or in your pack.

If equipped, you will NOT get the bonus of your ASH

If the runic is in your pack, and you have an ASH equipped, you will lose a charge from BOTH

3) if making ALOT of things, put your ingots in a pack (any container will do) inside your main pack. All items you make will go there. This is handy for the UOA auto-smelt feature, once you are done sorting.


4) Double click the runic, then select the material you will be using (iron, shadow, DC, valorite, etc.). To see what bonuses each gives, see this chart on uo.com. You select this FIRST before crafting, since there is no chance of breakage. Otherwise, if you enhance with a material for bonus after crafting, you run the risk of losing the item.

This TRIES to take into account some of the basic criteria for selection and circumstances.

Newbie Armor - Tunic and legs out of dull copper. This is for the high physical, but MAINLY for the lower requirements. Since newbs rarely have over 50 starting str, this will enable them the full benefit of GM armor.
Rest of the suit can be out of any material, although I prefer either all DC, or all valorite.

High resists armor (uncommon, most make weapons with runics, and armor with tailor runic sewing kits, due to the mebable quality). Valorite gives +13 resists to the base total resists of the armor. GM Arms lore give +5. GM+ Blacksmith gives +6 (when crafting with runic, +14 if not). So at a minimum, your armor will have 24 base resists.

Weapons I bear full responsiblity if anyone disagrees with this list. Again, this is a very subjective area.
Personal weapon - Preferred weapon type. Use Dull Copper for better durability. Use bronze if you are looking for a weapon against fire weak creatures (Artic Ogre Lord, White Wyrn, CU Sidhe, Ice Demon)

Weapons for sale -
Most popular
Ornate axe
Kryss
War Fork
Mace
Katana

Recipe made weapons
UO:ML weapon recipes (except artifact class) properties and intensities will STACK with a runic hammer's bonus. Refer to the link to check out which ones interest you the most.