I've been playing now since the 5 day early access. I'm a level 17 dragonknight and I'm between level 5 and 6 in smithing. I can't tell you exactly how many pieces of iron I've refined, but it's over 600. Refining the ore is supposed to give a piece of "honing stone" occasionally for weapon improvement. With all the ore I've refined, all I've gotten is 8 honing stones. Now, considering you need to use at least three to have a chance at a successful improvement, I think only getting 8 stones is really restricting things a bit. I've been playing Elderscroll games since Daggerfall, and am well aware of the importance of crafting. So I keep track of all my materials. Now I've gotten gems. I must have at least a hundred or more. But, since I see no use for them at this point in the game, I'd gladly give up a few of those for a few more honing stones. I haven't been able to improve a weapon since level 10.
"What is good in life? Destroy your enemy's, see them driven before you, and hear the lamentation of their women" Conan the Barbarian