No you are not right... the runic tool kit is very useful.. Runic tools are also very useful.
Earlier-- in this post-- I was answering the questions-- you posed-- to the point. I did this without adding to much additional information in the hopes of not confusing the situation.
The idea behind using runic tools is to enhance or create items with a superior quality.
Each runic tool represents a specific material found throughout the realm. Some materials are easily gained, while others are more on the rare side.
For instance Dull Copper ore is much easier to get then say Platinum. This is due to the fact that each one represents opposite ends of the spectrum. The same is true with runic tools. Think of this opposite ended spectrum in terms of possible potential.
If a dull copper runic hammer has the possibility to craft a long sword with 1 magical property on it; then a platinum runic hammer--at minimum-- has the 'Potential' to craft a long sword with at least 2 magical properties. Since there are several variations of runic hammers, it should be rather obvious that a Plantinum runic hammer will craft a long sword with more then 4 or 5 magical properties on it.
Keep in mind this is all before the servers custom trade skill mechanics. The 'Potential' mechanics are all still there, but the required skill, number of magical properties [intensities], and (RNG) Random Number Generator/Range of magical abilities found on player crafted items are slightly different the old school Ultima Online [OSI/EA] rules.
I hope this helps... just a reminder... runic tools are awesome things to have, but the runic tools type does not suggest its limitations when it comes to crafting... you can use a dull copper runic hammer when crafting with platinum ingots. However, do not expect to have an awesome platinum longs sword. On the other hand, you might find that using a platinum runic hammer, to craft a dull copper long sword, does produce the best dull copper long sword in the game. The catch of course... dull copper isn't greatest material.
--Sturger, of Skara Brea; reporter at large; EVO-Herald--