user name #1's idea sounds way too complicated, and when I make iths, i just use a program that i dl'ed off ***** becasue im lazy. Here's how it works- its called ith factory

1)start up ithfactory
2)start up d2- its important that you do it in this order, or it wont work
3)pick up your rune-worded item
4)minimize d2
5)set stats on ith factory(what class, weapon,armor etc, how many sockects, and what runes to remove)
6)click remove runes
7)the runes will dissapear, the rune word will get turned into ith, and your done.

**rinse and repeat as desired**