I'll reserve the this post to clarify updated patch balancing information as it comes out. As of now, repair costs are inflated and there are a few bugs amongst the item stat changes. Everyone calm down, it'll all be fixed in a little while as feedback comes in. Right now it's safe to assume that everything is a little bit different, even if it doesn't appear so, and that we should only post suggestions or observations about balance if they seem particularly out of sorts:
1. I noticed that my Mighty Warhammer (3 times heirloomed) deals just two more pierce damage (stab) and three more blunt damage (swing) than an unmodified warhammer. This seems unbalanced when considered with its generally nerfed speed (-2 points) and that the speed does not increase even when heirloomed three times. It should be noted, too, that the cost has also increased significantly (2000ish more) while almost every other stat has been nerfed.
2. Amongst 1-handers a couple stats are definitely unbalanced amongst themselves. For example, the nominally top two one-handed weapons:
Nordic Champion's Sword
difficulty: 13
speed rating: 97
thrust damage: 21 pierce
swing damage: 32 cut
weapon length: 102
10,195
Long Espada Eslavona
difficulty: 12
speed rating: 99 (+2)
thrust damage: 28 pierce (+7)
swing damage: 27 cut (-5)
weapon length: 103 (+1)
10,434 (+240)
It seems this has been partially balanced out. The price of the Nordic is now 1000 gold less and the Espada, it seems, is just unavailable. More information will be posted as it comes in.3. The 1-handed "spiked clubs" should have near-opposite prices. The light club is 1/3 the cost for slightly less damage but greater reach and speed.
More are pending discussion and I'll post more as I see them (or if they're PMd to me specifically).