This line of smithed armor, the Enchanted Elven Chainmail, is made by High Elves in their racial forge in Felwithe. This armor is actually pretty good as a set, all the pieces giving +2 to +4 Int and Wis, as well as having decent AC and being extremely low wght.
The problem is, as I understand it, the components to make this armor are either extremely rare, extremely expensive, and several of them are both. Add that to the fact that after compiling all the components together, you can still fail at any of the numerous steps in the process, and have to start over again, and I have to wonder if the somewhat small stats are worth it. Why not just quest or camp something with far superiour stats in less than half the time?
The only anwser I have to that (so far) is that it can be worn by casters. Hmmmm. So my enchanter could deck himself out in a full suit of chainmail armor, and get an AC that rivels that of a ranger... doh! heh heh. Actually, for high lvl chanters who don't need a nice robe to keep a 200 Int, this would compliment their illusion spells nicely... no longer do you have to look like a naked dwarf or oger when you illusion because they don't have models of the characters with robes. Now instead of Illusion: lvl 4 Dwarf, you can cast Illusion: lvl 16 Dwarf.
Again, if appearance is important to you, and you don't need the massive +int bonuses most robes have, a couple well placed peices of this would help the AC, and cut down on requests for Clarity by quite a bit :p
When I can afford the extra Int, and have about 25 hours to burn, i'd like to make myself a BP, Legs, and Arms. The rest isn't really visible anyway, except for bracers, but I doubt I'll give up the two best stat resivours on me.
Of course, by then I'll be able to walk up to the Efreeti guy in PoSky and get his Golden Efreeti BP, Legs and Arms... they are PLATE, and are All/All. That'll REALLY confuse people.
And that is the ultimate goal for most enchanters ;)