Is it ok to use a magic item to make a magic item? To my mind there are two considerations. Is it reasonable (bearing in mind that magic is not always logical) and is it UNBALANCING.
As for the reasonable, well, as I see it, you are basically just using the required spell as a PATTERN for the creation of the item you want, so yes, as long as you have a way to essentially 'see the pattern' of the magic every day while you create the item. Yes it should work. I think that's were the line is, you need one "charge" for the required spell each day of construction.
As to balance, well, thats harder to say. But it seems like Dragonport and Black Marshes in general are a HIGH magic area, and that the level of magic use indicates that its fairly easy to make. And if the characters can basically just buy any magic item for the compendium price, well, someone has to make them. So unless there are basically people who do nothing but stand around and make THAT PARTICULAR ITEM for any character, they probably need as much flexibility as possible in the making of items. I don't think this would break the game world, and it also makes 'sense'. What do YOU think (to anyone reading this)?
The last consideration is existing canon on item creation, which I am about to try to research now. But that means reading the books in detail, not skimming for reference, so it might take me a bit :) I'll post back here if I find something that makes this thread moot, or gives a firm answer in some fashion.
Protomas Ludwig
Rinzle Ranzibitz Gnome Wizard 3