I use enchanted stone craft, it makes creating arrows on-the-go much easier. And not every smith Mines for his/her Steel, I hunt in Ein_dun01 for mine.
I believe that the only reason people want to make the npc only cost 3-4 roughs per normal elu/ori, would be because they just simply want more elu/ori to upgrade their equips. I believe (Was told my another player) That the mining spot recieved a Nurf because it was giving too much Elu/Ori, In my opinion you would only be flooding the eco with cheaper (or simply easier to get) Eluminum.