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It appears that you only need the forge items that you needed in chapter 1. In chapter 3, there is a forge again, but it's just stronger versions of the same items (I wish there were new items...). Therefore, you need adamantite, diamonds, fairy dust, gargoyle skulls, ironwood, and that's about it. By the time you get to chapter 3, you should have more money than you'll ever need, so you don't need to make items just to sell. Only keep components for items you think you'll actualy use.
The other items are used for magical forging, and require the ability to cast mage spells. Therefore, they are limited to two or three classes only (this stinks IMHO).
You will occasionally need other items in dungeons for certain conjurations, but the game is good about providing all the items needed for a dungeon within that dungeon.
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