hmm, valid strategy...rolling an item up tp 8 is manageable for almost all items.....so perhaps you use your speed items with no speed, roll them up to 8 and use the ore on those who already have a double roll?
Perhaps concentrate on weapons and shields as their range of substats are lower?
If you roll up the items to 8 before using the ore, your chances are 12,5 % with weapons and shields to hit speed on the double rolled substat. If you use *pure* items, your chances to get a double roll on speed with the first two rolls are less than that (6.25%). Naturally this amplifies with rolling them up to 12. The chances to get the triple stat on speed is stil 12,5 %...but rolling them afterwards only has a 1,56 % chance.
If I didn't make a calculation error, it would be best to use ore on speed weapons or shields level 12 with a triple roll.
That would be the sweet point for me regarding costs to level up items and chances to get speed substat.