The thought came to me when I watched and read some previews of a game in the works called DayZ.
It's early access on steam. It makes sense to have this type of crafting implanted in a game such as Diablo. If I look at the new FPS that have been released over the past few years, there are now ranks and weapon upgrades that come with experience earned.
It would only make sense to salvage a 2 hand mace with a sharp heavy rock, sharpen it further and put it on a sword, to gain a heavier impact, technically critical hit damage. However, it would probably lower the accuracy of the item considering the weight and physics, in the game it would add some extra spice to crafting.