I talked extensively with Tim (the General Manager of Weta Limited) at the Con about some of the issues brought up here. There are valid reasons for the pricing, design choices, etc. for all of these products.
First off, the John Howe line... according to Tim, John has wanted to do sculptures of his art for years and relished the opportunity to work with Weta and Richard again. It was his desire to do bronzes as that is how he always imagined the pieces; the low edition size is due to the fact that not too many pieces can be produced before the molds break down and are unusable and the fact that not a lot of people can afford bronze pieces.
The LOTR swords... each one will be hand-made by Peter just like swords were traditionally made for the last several centuries. It takes Peter about a month or more to produce one sword... that is a month they are taking him away from working on other productions, such as The Hobbit! With an edition size of 10, Anduril alone will occupy almost a year of his time, and when The Hobbit production ramps up, the schedule for the swords will take a back seat. So Weta wisely choose to limit the edition size to avoid very long delays and being able to make Peter available when they need him.
The shields... these are new sculpts, and have nothing to do with the prototypes shown several years ago. I do agree that the "pin" idea isn't the best, and Weta may re-evaluate that thought.
Gandalf's cloak... these are hand-made on original 1890's looms that have been in operation since new. The process is very time consuming... they raise the sheep and shear them, spin the wool into thread, and meticulously weave each cloak by hand. Old world craftsmanship at its finest!
Gollum... This pose is one of Richard favorite's, and that is why it has been produced in many different forms. Why a life size bronze? Because Richard loves bronzes and hopes to build a "bronze garden" one day and when he retires, he will run the garden and give tours and allow people to enjoy them as well. He hopes to do all of the Fellowship in life size bronzes eventually.
So, as you can see, there are reasons behind every choice they've made. Just because one doesn't understand the reasons or can't afford the items, that is no reason to get angry at Weta. They are actively looking for feedback from the collecting community, so if you feel they are doing something wrong (or right), let them know about it, but just do it in a civil and respectful manner. I promise you, they are listening...