Right, so here's my idea compiled from posts from this thread:
-Remove stamina, replace with passing of time instead. When you refine something, you select everything you want to refine, press OK, game takes you to the world map view and time passes. Having higher smithing skill reduces the wait time. Same thing with smelting, forging obviously you just craft the one weapon you select.
-Remove charcoal requirement from low grade iron weapons, have it only for steel and higher. Also applies to smelting.
-Smelting weapons should give all the parts the weapon has, perks should increase chance of unlocking an additional random part related to the weapon type.
-Remove RNG reduction of stats, instead do Warband style modifiers like "crude" and so forth.
Then it's just a matter of balancing it so smithing doesn't become the #1 way of grinding to become a millionaire.