When I've confronted the problem, these questions came to mind.
First, can higher quality weapons/tools actually YIELD a skill bonus - and how large?
Second, how much more do higher quality weapons/tools really cost?
Third, should magical weapon bonuses exceed quality bonuses?
Fourth, depending on the answers to the first three questions - how do we want that to affect our game play?
Let me give my attempt at answers and let others take their shots...
Question #1: Can higher quality weapons/tools actually YIELD a skill bonus - and how large?
I think higher quality weapons/tools definitely yield a bonus above base skill. Certainly the "pros" think it does. They always buy and use the "best" equipment they can find and they will pay outrageous sums for the advantage. Balance, reliability, strength, weight and accuracy are all critical to success with a weapon or using a tool. The higher quality weapons/tools all tend to have these traits in abundance. My personal experience in construction, software engineering and paintball certainly convinces me.
I think no one would argue against +5 or +10 for quality bonus. I think its the +20/+25 that bother folks. It would seem so - but compare that as a percentage to any particular "skill roll". If you have "mediocre" skill say 8 ranks plus 10 stat bonus - that's just a 50. So a +25 seems like a huge bonus. But REALLY, the average roll is a 50 plus the skill of 50 for a total of 100. So that +25 increases the average roll by only 25%. With a weak skill bonus of 10, the average increase over the 60 is 42% which is large - but if anything innate weapon/tool reliability and accuracy are more important to the less skilled. For a master swordsman with a 120 total skill, that +25 is only an average increase of 15%. So my argument is that the +25 bonus isn't really that huge a bonus.
Custom made-to-fit gloves, clothes, boots and armor almost certainly work better and increase the effectiveness of the wearer's skills. The same applies to weapons made to fit a particular hand, stature, style and strength. Its gotta be beneficial in maintaining balance, control and confidence which are critical to success.
Question #2: How much more do higher quality weapons/tools really cost?
Most tools come in "crap", "average", "premium", "professional grade" and "custom fit super professional grade".
As best I can tell from experience and looking around, professional grade costs no more than 2 - 10 times more than average depending on the type. Custom fit, super high grade, clearly will cost a lot more.
Question #3: Should magical weapon bonuses exceed quality bonuses?
By the rules, the maximum quality bonus and maximum magic bonus seem to be capped at +25. I assume this is for arbitrary game balance and nothing more.
Question #4: So how does this matter in game play and campaign mechanics?
One easy thing to do is to rule that you can't get +20 or +25 without being CUSTOM FIT for the tool/weapon/armor. But otherwise, a multiplier of 10x, 20x, 30x for basic stuff isn't unrealistic or unbalanced. In terms of money, I think of 1 CP ~ $1, 1 SP ~ $10 and 1 GP ~ $100 in modern purchasing power. So instead of paying $100 for a generic broadsword, our adventurer decided to go for quality and bought the $3000 broadsword instead custom-fit for his/her fighting style and size. It doesn't seem unreasonable at all that it should yield about a 15-40% advantage over the crappy Wal-Mart version. And 30 GP seems like a large outlay for a beginning adventurer. What about a horse? Survival gear? Daily food and lodging?
So. I think in general - quality is NOT overpriced. And should be readily available. The professional adventurer is going to buy the better equipment. IF the adversaries are "pros" - they'll have better quality as well - so that should balance out. Thugs and goblins have to make do with "average" weapons? Let them eat cold white alloy steel.
Magic weapons/armor and items? By the rules (as found scattered across LOOT, COM, ML, etc), I think they are often WAY overpriced.
Let's examine the rules from COM:
"The spell casting cost is given by the following formula: Casting Cost = Total Imbue PPs x number of imprints to create x Complexity Multiplier. The total Imbue PPs refers to how many PPs are needed by each batch of required Imbue spells. The number of imprints refers to the total number of castings required to create the item. The Complexity Multiplier represents the inherent danger of spell-casting to the enchanter. If all Imbue spells re in their base form, the Multiplier is x1, if any have to be scaled, the multiplier increases to x5."
This works great UNTIL the last clause there. Without the complexity multiplier, magic items are seriously expensive but not too outrageous. So I've dropped the complexity multiplier in my campaign but otherwise use the rule as written.
Overall, the quality bonus is a better "deal" UNLESS you need to fight monsters like undead where magical weaponary is a substantial benefit. And I'm fine with that.
I think players should spend their "magic" budget money on REAL magic and not on "plain jane" weapon and armor bonuses.
Robin