Thanks guys, that's what I thought, but I wasn't completely sure. That's handy, and in a longer duration game could possibly let you swap around with some item bonuses, creating more powerful ones, or replacing those with larger use items.
Also, I'm looking at the rules and trying to figure out, what's the highest armor you could get in a magical duster like harry has? If I'm reading it right, to get a duster with armor 2, you'd need an eight shift block effect, halved for armor, halved again for always on. This is possible for a very focused crafting character, but anything higher seems virtually impossible.
Submerged character:
Lore+5, Thaumaturgy (Crafting Power +1) = 6
If you bought refinement 4 times, three with focus items, and one with crafting bonuses, that would give you
Lore +5, Crafting Power +2, Crafting Focus (power) +5, with a couple of item slots left over. That seems like a ridiculously large investment though, so I'm not really worried.