I actually have some concerns regarding grabbing an Ulgu Powerstone for the Elfcation.
Having a solid chunk of raw Ulgu on our person seems like the sort of thing that might make us easier to spot, if we aren't careful.
Mathilde
already carries along a bunch of enchanted items and constantly keeps a lot of Ulgu in her soul for ease of casting. I wouldn't worry about that. Particularly when you consider that she already has a lot of experience with this sort of thing.
Re: Trying to open up the favor economy with the Runesmiths... I am against the idea. I'm still not entirely sure why people want that. Sure, a number of wizards may well want Runic items, but Runesmiths and dwarfs are almost never going to want their counterpart, enchanted items. In general I don't imagine many Runesmiths are going to seek out the aid of wizards.
Furthermore, if there was actual consensus from the thread to want this, I don't think we should use AV for it - what you should ideally be thinking about is spending the Runesmith boon we got from helping Kragg. That'd be a good way to get your foot in the door.
But even then, like... I'd really rather use that boon to help get a library deal with the Runesmiths' Guild - Boney confirmed a while back that Runesmiths are typically the ones that handle weird magical phenomena in their Karaks, so they're probably the ones to go if we want more Dwarf books on magical phenomena such as Sevir, Chaos Sorcery, Skaven Warp Magic, Waaagh Magic, and Warpstone - topics in which we have a mere Extensive, but which Dwarfs quite likely have up to Esoteric, on at least some of them.
Hell, it's possible we might get Dwarf books on other magical topics we have nothing from them on, like Necromancy (Karak Kadrin has lived near Sylvania since it was Sylvania) and Forest Spirits (Karak Norn has lived near Athel Loren since it was Karak Norn).