Marrow
Terrarian
I'd make the tiers a bit more grounded and less easy to like... skip over.
Ore armors are a ing joke, they're so goddamn expensive. Just run on over to the corruption with some bombs you found while mining for 15 minutes, break an orb, save a bomb for the demolitionist and get him to move it, and then buy some dynamite to destroy the meteor that falls. Then boom, ya got armor and tools that are good enough to defeat the WOF.
I agree with you. To make a playthrough more balanced you basically have to restrict and make rules for yourself- which is kind of annoying. Plus even if you do use Ore armor, by the time you have a full set of something like iron, you've probably already collected enough gold to make yourself a full set.