I just discovered the updated dumpeditems.sql script from this site last night... I was using the version from sourceforge before that (dated from December). I guess there's not much point updating the item prices with new releases of that coming out all the time

That was just a "bandaid" fix anyway.
The best way to fix the problem would be to have all those items that merchants normally don't sell be put into the proper loot tables, then to remove them from merchants' inventories. This would negate the need to "balance" their prices altogether. Unfortunately, I don't have an eqlive account anymore, so I cannot contribute to getting those loot drops accurate :(
Does anybody know of a site which might have such data easily available (which creatures drop which items, I mean)?