I actually followed this route for my smithing. Worked up to 194 on Freeport Plate, then won hammer in a raid. Was going to write how I did it, but you beat me to the punch. 
After that, it was rings/rings/rings till I hit 212.
About 1 skill up in 20 seems accurate to me. Of course, the random generator rarely makes things that simple. At least one of my skill ups took about 60 combines to get. Then again, after I made 212, I made two acryila armor pieces and got 213 on the second combine.
I didn't have any 100+ combines hell levels like some other people have posted. Worst skill point was the 60+ one I mentioned.
Also, as a high level character with access to some plat, (I am not rich, but I won a couple items which I was able to sell for smithing money) I found the bazaar a tremondous resource. I didn't have a lot of time to farm and gather components, as I am a leader in a fairly active raiding guild, so being able to walk in and just buy a stack of leather padding, etheral bricks or etheral temper saved me a huge amount of time. Granted, I went through about 30k going from 188 to 213, but I did that in less then a week after I got the Creator hammer. Got very little cash left, but I at least now make sickles and black acryila weapons and start to recover my losses a bit.
Being able to make decent armor with smithing has always been a dream of mine, but one I thought I could never achieve due to my lack of time. However, with the bazaar, Creator hammer, and planes of power its now a reality.

After that, it was rings/rings/rings till I hit 212.
About 1 skill up in 20 seems accurate to me. Of course, the random generator rarely makes things that simple. At least one of my skill ups took about 60 combines to get. Then again, after I made 212, I made two acryila armor pieces and got 213 on the second combine.
I didn't have any 100+ combines hell levels like some other people have posted. Worst skill point was the 60+ one I mentioned.
Also, as a high level character with access to some plat, (I am not rich, but I won a couple items which I was able to sell for smithing money) I found the bazaar a tremondous resource. I didn't have a lot of time to farm and gather components, as I am a leader in a fairly active raiding guild, so being able to walk in and just buy a stack of leather padding, etheral bricks or etheral temper saved me a huge amount of time. Granted, I went through about 30k going from 188 to 213, but I did that in less then a week after I got the Creator hammer. Got very little cash left, but I at least now make sickles and black acryila weapons and start to recover my losses a bit.
Being able to make decent armor with smithing has always been a dream of mine, but one I thought I could never achieve due to my lack of time. However, with the bazaar, Creator hammer, and planes of power its now a reality.

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