I just feel compelled to point out that Barrows isn't power armour, and from a stats perspective, base Banite armour is superior to melee Barrows is nearly every single way.
Our of curiosity though, what was the point of Smithing before the rework? Back when you could make two rune hatchets for the price of four and sell them for their exact alch value? How exactly is Smithing useless "now?"
At least now we have easy-to-make tier 85 weaponry, extended Banite options, and Masterwork. Those things are wonderful.