I don't think that the item exchange version should be linked to g.e. prices due to instability. A better option would be to rank items in terms of their usefulness/value and give them a fixed exchange rate. E.g. for the sake of this argument, we will use tokkul as the currency (could be anything)- GWD items exchange for 500 tokkul, spectral ss 1k tokkul, arcane 4k tokkul, tbow 10k tokkul, elysian 15k tokkul. Should be able to exchange these for a cracker which costs 20k tokkul.
If this idea was to be implemented, we can gather opinions from players on what items should be worth.