We'll I guess I'll give it a shot, I might fall in love with it, but I gata be honest with you, the default name and description "Item <001>" is a real turn off... Maby you could have in the config the option for default names like "Sword" or "My Sword" or have a list for random name generation.
The item description is a hard one, perhaps you can get it to catch the first material used to make the sword and the description can say by default "A sword made out of (item)." But of course keep these 2 fields editable so the player can still write there own names and descriptions.