I spent 120 alterations on an ilvl 68 imbued wand. Best roll I got was 37% (I was hoping to get a decent enough roll and then regal). I'm not saying the wand I lost out on was amazing. But comparitively, *decent* items are incredibly cheap compared to skill gems and even certain socketed items.
Maybe I just don't know shit about the mechanics of this game but for instance... I had a 30% to elemental damage, 7-70 lightning damage, 45 life, 12 all res, 32 lightning res, 7% fire damage level 24 ring that I was trying to sell forever... I ended up selling it for something stupid like 1 alch because NOBODY wanted it... and that seems like an incredible ring especially for that level. Or maybe I was just in terrible trade channels (why do they have so many separate trade channels? Is there a way to see and cycle through them?)
And I know that the flat cold damage doesn't effect spells, was just listing all the mods on the wand that I rememberd.
Yeah well alts can be finnicky bitches for sure. I used 60 alts to roll ONE seething flask the other day. Just a normal seething hallowed life flask, I didn't even care about the 2nd mod, and yet I never rolled it forever. Also about 15 augments. Was just saying that in general, you'll be able to get a good spell dmg % roll.
Now on the price of various items and their relative value, you have to understand that for example wands are only useful to casters. Chain is useful to more classes out there, some casters, some archers, some melees(lightning strike, but not really anymore). Gems also enable you certain mechanics, items other than uniques simply improve your existing stat. Now as I said, Chain is way overpriced imo, it should be worth a GCP, maybe 2 but not 4 like it is currently. And for 4GCP, you can certainly find a ton more upgrades that will make your char stronger than just adding chain, no question. Just buy a fork for an alch and bam it's almost as good already(it's actually better on tight packs). I don't even think Chain is that good on THE chain build, LA archer builds, until lategame where your damage is high enough that the penalty doesn't affect your chance to shock on non crits(static blows). Using a chain at lvl 31 unless you have a godly bow is probably actually worse than using fork.
Items do have what I'd call the D3 syndrom, to an extent. That is, items with all the good shit are worth an exalted+(like for a wand, high spell power, crit, cast speed, maybe projectile speed too, health, resist if possible) but items that only have a few of the stats are worth an alch/chaos. I'd say the ring you listed sounds pretty awesome though, I think it would have sold for a GCP or so to the right person. But the problem is finding that person. I often have shit in my "sell tab" for 3-4days before it finally sells, and it's not even expensive shit, mostly it's 1alch or 1chaos shit. I do wish you could switch trade chats, you can kinda by relogging, but sometimes you end up in the same and it's hard to tell right away.
Anyway, that non perfect items with still very good stats aren't expensive is a great thing for gearing up early on. You can grab a full set of very good gear for an alch to a chaos per piece, instead of having to grind forever to be able to afford an upgrade that lets you progress.