The hypothesis that the pick's base damage is the product of four quantities multiplied together: base power, quality (as defined by the initial adjective if present), pick type/tier, and enchantment bonus. It seems to work fairly well--can it be proven to be correct?
But there is a 2-3% margin of error. What is this error due to? Is it all in one of these categories, or is it spread across them?
Does the game come up with a pick power first and then choose words that match it, or does it come up with the words first and then calculate a pick power?
Are all four quantities independent of each other? It certainly seems that Gem Waster affects both pick tier and enchantment bonus.
When is the best time to craft? Obviously right after you upgrade the blacksmith, so when is the best time to upgrade the blacksmith? What order should the blacksmith upgrades be bought? How much should you save up to upgrade at once before crafting? How many times in a row should you craft before you give up, or should you just keep crafting until you're out of gems or get a 500% pick?
Should one always buy the highest affordable gemwaster upgrade? Should one always use the highest purchased gemwaster upgrade, or is it sometimes better to use a lower level of gemwaster to have more attempts at crafting?
Is there a maximum possible to each of the three description words, or are they unlimited? Someone reported getting a "8 times godly" pick, how high does that go?
Are all combinations possible? Or, for some types of pick are there some adjectives or enchantment values that are impossible or vanishingly likely?
What's the fastest you can get to Hellstone when playing actively? When only buying upgrades and never clicking the ore?