Another point on the permanent duration. My high level character built his mace IG. It is perm with 7 rits, so not that huge. I could actually dragon stamp a better item(s) each year. But it has a name, a history and I spent 7 or 8 hours in a CoP with a wizard having it made when each rit lasted half an hour or an hour to cast (you whippersnappers got it easy with your five minute rits). I've been through countless adventures with it. To me, the mace has epic meaning to both my character and me. It's not just some trinket. Other characters in the chapters I play can tell what weapon my character use. My team can tell you it's name and what it means. It becomes part of the character's identity and plotline, like Excalibur or the Sword of Truth or the Heron marked blade. If it popped after five years...a big coolness factor would be gone out of the game that has nothing to do with what the item does but what it IS.
As I said, I could gobby or dragon stamp a more effective weapon every year or five years. And I would be sad.
Scott