A +4 Holy Silver Khopesh of Evil Outsider Bane requires only level 45 crafting and costs:
10 Arcane Bolts (10 TP)
256 Arcane Charges (128 TP)
+4 Enhancement Liquid (trivial)
25 Good Beacons (25 TP)
320 Good Beams (160 TP)
3 Glittering Dusts (trivial)
2 Marks of the Keeper (trivial)
25 Sib shards (trivial)
1 Silver Khopesh (any; enhancements don't matter)
So, once you level to 45 (out of the 75 we currently have recipes for, and 100 announced at PAX), you can buy something significantly better than a MinII, for its primary purpose, for 323 TP, and a few trivial to get ingredients. And a +5 Holy Burst Silver Khopesh of Greater Evil Outsider Bane will almost certainly be craftable, although will be much more expensive.
I don't think it'll even be that hard to get the bought ingredients by grinding down items, either.
A MinII does have slightly broader use than this weapon, but is it really worth crafting one for Demon Queen, and basically nothing else? Not to mention, the cost of making a Cold Iron version of this item is the same.