We know that from the moment Boromir realized that Isildur's Bane was the Ring he saw it as THE weapon. so even if the Ring was not yet targeting him he was already primed to want it as the weapon to use in fighting for his land.
Have never done anything in metal, but we did have an antique store where we sold, among other things, swords from all over the world as part of our merchandise. We had two Dayak headhunters swords, one from Borneo and one from the Phillipines, a headsman's sword from China, a sixteenth-century French hunting sword that was destroyed by "friends" of the one who bought it (I still weep when I remember how the horn handle had been damaged), and a number of Masonic and military dress sabres from all over the world, mostly nineteenth and twentieth century. We even had one true samurai sword, and learned some about the making of such things.
And in this case, I believe that Elrond would want to consult with what Dwarves he could find who were interested, as he was one who could, due to his nature as Peredhil, look beyond one culture to find the good in all. If Telchar originally forged Narsil, then I would think his descendants would have a stake in helping see it reforged.
Blood magic was likely practiced by a number of peoples, although as the descendant of the Faithful of Numenor and as one who'd undoubtedly seen the effects of Sauron's altars to himself, I suspect Aragorn would have been mostly repulsed by the thought of it.
Thanks so for the comments--I do appreciate them.