#1 - Sept. 25, 2011, 8:48 p.m.
Unless somehow the socket that is created by the blacksmith has its own distinction, as to allow adding a socket to an item, even if it already has one (so one socket would become two); these items will always be less powerful then their counterparts.
The fact that a socket is taking up one of the magical property slots on an item can be seen in a crafting video by VesmarEntertainment:
http://www.youtube.com/watch?v=Z-WshUdul9E&feature=player_profilepage#t=393s