I did and you are right and also wrong. You do actually get slightly more from Improved, I do not know if that was changed at some point or if I was just misinformed about how they worked.
However, you are wrong that they give different components.
Star Metal Pick:
Standard = 10 Star Metal, 2 Shaped Wood
Improved = 12 Star Metal, 2 Shaped Wood
Perfected Heavy Padding:
Standard = 13 Hardened Leather, 5 Elephant Hide
Improved = 16 Hardened Leather, 6 Elephant Hide