It's true, the average iron waraxe of icicles or whatever gets ho-hum as shit quickly enough, but there's unique magic items that are entirely too bad-ass not to love. I'm best friends with the Krosis dragon priest mask, for example, even though I've out-forged it with single-enchant helmets now. And if you finish the Mage's College quests, well...let's say there's a lot of mage shit that it'd be impossible to enchant by hand.