The relic weapon quest is OBSCENELY boring...

[Gilthas]

It would do absolutely nothing of the sort, provided you only have to run 24 man raids.

MoP's legendary questline wound throughout the entire expansion, having a progressing storyline that was interesting, time-consuming and CHALLENGING, without resorting to making us go hang around level 20 areas for days at a time or run old, poorly-designed dungeons.

If Blizzard can make this work and not be utter shit, SE can do the same, right?

No, it would do exactly just that.

There are already two weapons that are obtained through the highest level raid (Ironworks and Dreadwyrm) and you want to put a third weapon there? There's a reason that relic weapons don't require Final Coil.

I will say this: the materia step should honestly be the least stressful step.

Spiritbonding is incredibly easy and you could very quickly get all the tier 1, 2, and 3 materia you need in a day. The tier 4's can always be added in later if you find you have more money and want to. But it won't make or a break a weapon.

That's the thing though. Farming Tier IV materias are a real pain, so I ended up caving in and buying most of them. Novus (the materia part, not farming the alexandrite) is by the far part I hated the most of the relic quest.