I believe you can unravel weapons, armor, and jewels.. Weapons and armor must be iron/leather/cloth (not enhanced). A runic crafted item can be unraveled as long as it was made with iron/leather. The more mods and higher intensities the item the 'better' ingredients you'll get.
One thing to keep in mind are the often overlooked properties that are counted as 100% intensity.. night sight, fc1, mage armor, crappy slayer, UBWS, etc.. I think 4 properties over 80% intensity is the target for decent unraveling.. I also think the auto damage increase from GM+ crafting/arms lore counts as 1 of the properties.. so a lot of the junky combos crafted may actually be decent to unravel... Like a lizardman slayer sword, fc1, DI43, UBWS, with 50% phys/50% cold damage (another 100% property I think).
I hope I'm at least close with most of this info... it's just what I remember from reading other posts. Either way, I can't wait til it starts so I can get rid of all the junk filling my house.
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