Heirlooms are the c-rpg equivalent of the Diamond market IRL.
They (the heirlooms) are common, but handed out in trade rather slow and sold for high prices simply because the buyers will pay the money for it.
Kind of like how Chicken is more expensive pound for pound then Turkey where I live, only because it is more "popular" and thus has an artificially inflated price.
Also, one can argue that the base cost of an item does not matter, as to an archer a triple heirloomed piece of light armor will be worth more to him then a triple black armor (for what use has he for the black armor?). Likewise a tripple loomed strongbow is worth more to a dedicated strongbow user then a triple longbow, and yet worthless to someone like GoretoothX who does not use bows nor has PD.
Also, a thousand gold is more precious to a heavy horseman character then to a ninja, so that too will effect the prices of certain items.
I do agree that prices are a little high at this time, but we shall see how those prices fluctuate.
I am content with hording my gold, even though I am a multi-gen archer, because I honestly am not suffering from any disadvantage from not participating in buying any 'loomed items, though I have sold a few things (100% of the things I wanted to sell actually) so I am more then content with how the market works right now.
EDIT: For clarity, consider that there is no way to enforce a "fair market" and things such as Kesh becoming an arms dealer is natural (gold and looms abundant considering Gen 91). The prices will slowly over the course of time naturally settle to reasonable amounts, as low-sought items will lower in price and common items will raise in price.