This is where Tinkerer's comment a while back about how "[he] should have used flags/switches instead of Common Events for some things" comes in. IIRC MV has like 5k each of flags and switches to the standard 1k CEs he mentioned in his last sneak peek post. Some of the blacksmith+dog steps could be flags rather than CEs, cutting back on how many CEs he has to add through the workaround. Disclaimer: I have no idea if he actually used CEs for all those steps, just continuing with your example.
A rebuild that uses what he's learned would, I think, be a lot more stable and probably support more content on top of what's already there. But like I've said it would be a very large project to do, even if he stays with MV (MZ apparently has some significant differences that would need to be learned).