The one thing you have to keep in mind: do you have all 5 i130 accessories for melee and tank (so 10 total pieces).

This is where 99% of players will fall off. And by the time you do have all 10 pieces, the i110 crafted accessories will be out already giving much better stats.

The second thing, you can actually try this with i110 accessories. But no matter what combination you do, ie 3 vit acc + 2 str acc OR 2 VIT acc + 3 STR accessories, your stats will always be less than the penta melded i90 accessories.

Cheaper? Most definitely. Better? No, unless you have all 10 i130 pieces already.