I did the mining blacksmith route for my pally too. I wound up making most of my own armor and about half of my weapons. I really enjoyed it and made my friends a bunch of stuff too. I needed 2 of those lusterous (sp?) (2nd level i think) pearls for my last/best chest armor and wound up paying 2.5g for 1 and 3g for another. Ya, I paid too much and wiped out my cash reserve but wow that was some sweet armor!
My comments on the economy. You really can't base your thoughts on the games economy on what you experienced in a 2-3 week period. The economy was in it's infancy in that time period. When last ST/OB started I was making a killing selling linen bags for 4s each. (my first ST toon was a warlock). as the economy got "older" I would up getting less and less for them (ya know that whole supply/demand thingee). Prices on "rare" trade goods like wool, medium/heavy leather & hides, bronze dropped pretty quickly as more and more people reached levels and content areas that allowed the supply to increase. I didn't start finding silver and iron until the last couple of days of OB, never got any mithril, but I rarely saw iron in the AH. I imagine though that another 2 weeks or so and it would have been relatively common.
People that used the AH to sell stuff made lots more money than those who didn't. I met player after player who didn't use AH and dumped their green and sometimes blue items with a vendor. Meanwhile I'm crafting pearl handled daggers left and right and making a killing.
The economy is somewhat simplistic but we saw it in its infancy. With 6g in my pocket at level 25 I found I had far more money than anyone else I talked to or grouped with. Of course 2 pearls and level 26 training left me with a lot less...
I really miss it though! Must find some freelance work next week to pay for WoW. Must!
Edit to say about the backstory (I'm not going to do hit by hit of IrishSean's issues, I think you must be getting old dude
) did you read any of the letters and other things you carried for quests? I thought it all fit in quite nicely with the backstory and I was really enjoying seeing what was going on...