Peasant items are awesome to mess around with, and can be very painful to use. I notice that many skilled players resort to peasant items after getting very bored with standard hack n slash iron weapons.
So what am I suggesting?
Peasant items, that are clearly less powerful than other items, aka the sickle, practice lance, the cudgel, ninja stars etc, should have a greater return on their heirlooms!
This way a player can suffer through the long proccess of trying to fight with a sickle for instance, but be very motivated to get it heirloomed.
These weapons have a clear disadvantage and I think this would be a valid way to rebalance them, and make them an even more fun part of the game.
By this I do not mean, give a disproportionate amount of dmg and spd according to the heirloom. But scale the bonuses for every hierloom by 1 and 2/3. So instead of the elder's sickle doing 23 damage, it would do 25 damage.
That way it gives players incentives to play a different avenue of the game, other than just laughing at the enemy when they kill them with a less powerful weapon.