Thor would simply add an attribute bonus to the weapon and only apply to a certain type of weapon. (being the hammer). Along with that, it could be added to armor aswell. Giving resist to lightning, while taking away resistance from other elements. There would only be one "Thor's helmut", one "thor's boots" and so on.
The hammer was just an example. I mean you're not going to get a Thor's Newbie blade of healing. That would just be stupid. In the item editor, you would just make a combo boxes for what each part of the name would be. Simple is not always better. This sytem would work great for crafting, and makes for some awsome rare weapons. You will not get 200 different types for each weapon. It would all be decided what does what in the process of making the items. If you don't want a Thor's godly toothpick of healing, then you simply don't make one. This just makes the game more interesting since everyone has a chance to "discover" something new.
You guys are reading into this way too much.
