FOr smithing, you don't really need to do the LBoDs unless you want to... You can get a hammer up to bronze with smalls, and mostly the shadow (100% elemental dmg) and copper (100% hit leech on 3.0 weapons, 96% on 2.75, 150 luck, clean 10 stam etc) are what gets used these days. Since basically any non-weapon deed can be bribed to give you either a shadow hammer, copper hammer, or a PoF... pretty much every deed can be immediately cycled. I don't even accept the weapon larges, nor ringmail, nor something like 20 verite exceptional shields.
The gold+ hammers, which require the LBoDs, are very very hard to control what you get when you reforge, so you either need to plan on burning through LOTS of charges, or getting some mods that are sub-optimal. As such, smithy LBoDs don't have a ton of use. If you need a +60 hammer, just buy one for 200k. If you need 120 smith, just buy it.
Tailor LBoDs I think people find worth doing: the 4 cloth non-exceptional x20 gives you spined kits, which are very useful for getting clean 1 mod stuff. When I get any 4x normal cloth I try to bribe it to 20, if it goes exceptional, I toss it. 4x exceptional and the 5x cloth I normally toss away. The footwear larges I always bribe to be 20 barbed exceptional, because these give horned kits. (and sometimes 120 tailor, which is basically junk... maybe can sell for 100k). The others I always bribe up to get a barbed kit, so always 20 barbed. This way, 100% of the leather smalls I get can be used to fill larges.
In general then, I just cycle smalls. I have a couple 'extra' chars with 0.1 tailor which I will use to grab 3 cloths a day, and usually just immediately buy stuff to fill them. Then I give them to my 120, and he turns them in to cycle a chance for a large.
I'm quite certain that this is the most efficient way to use bods if you're trying to maximize the utility. If you want a certain decoration or something, you can just modify my above system for that 1 lbod etc.
In the way I normally run deeds, I can normally get and fill 2 or 3 larges with about 2 hours of effort. Just takes a bit of cash for bribery... but gold is easy to come by, and you can always sell PoF pretty easily.