CountChocula
Keeper of the Watch
You sure about that? I got my smithing up to 100 for one character and legendary was the best I could do. The dragon armors are really good at legendary level.
There is not another level beyond "legendary"; however, as my smithing skill has increased over time and I have acquired or enchanted various smithing items, I keep going back and improving my legendary elven, steel and leather items beyond what they were the first time I improved them to legendary.
If you first max out your smithing skill, you only need to improve items once.
However, I have improved the same items many times, and my smithing skill is still only in the 70s, which makes smithing a sort of money sink for me. I'm sure I will continue to spend more on smithing materials as soon as I unlock the Glass, Ebony, Daedric improvements.
Finally after about 170 hours and reaching level 44, I was able to save up enough to afford a house in Solitude. Whoever designed that player house did a fantastic job IMO. The upgrades are another great gold sink, and it was a nice touch that a housing upgrade handbook is provided.