So I just combined the Bent Razor Head and the Pine Spear Staff to make my first polearm with my new character. I got ~60 levels of smithing, levelled up twice from 9 to 11, the polearm is worth 106k denars, and has the following stats, far superior to anything else for my early game character.
Weight 1.5
Tier 6
Swing speed 91
Swing damage 126 cut
thrust speed 97
thrust damage 41 pierce (slightly less than my previous polearm, my Sturgian lance)
length 154
handling 77
All it took was three steel, some wood and some charcoal. I did see a similar issue reported in the "known issues" section, but thought I would mention this anyway. Now if you'll excuse me, I'm going to go chop some bandits in half with my shiny new friend.