I just made the game first Pristine Forged Cobalt Greatsword and am so thrilled with the damage I wanted to post and share this right away.
Check out the damage rating compared to the Prismatic Greatsword of the Scale:
The imbue recipes aren't in game yet, and SoE has not announced when they will be added. However, with damage so superior, who cares about the proc.
Look me up if you're on Blackburrow, have a cobalt cluster, and would like to get one made. I'll be able to make the Cobalt Long Sword tonight (level 49 recipe), and will post a pic of it later.