Welcome crusader. That's an interesting idea to have runes embedded within the answers instead of the acronym stance everyone has been taking. We'll have to go back and analyze that strategy as well.
Since its been a while, I'm reposting the updated list of runewords, in addition to links to the pertinent B.net threads.
Main runeword testing thread:
http://www.battle.net/forums/thread.aspx?fn=d2-general&t=834838&p=1#post834838
Pul/Fal reporting thread:
http://www.battle.net/forums/thread.aspx?fn=d2-general&t=842337&p=1#post842337
A-E-F reporting thread:
http://www.battle.net/forums/thread.aspx?fn=d2-general&t=842342&p=1#post842342
You may notice some higher runewords have been tested from the 1.07 list. Wathombe found another testing thread on a not so appropriate website. I've listed those tests with a ^ symbol instead of *.
New List:
Name ( Base ) Item ( Sockets ) Runes {{Tested}} ( Highest Rune
* Myth v2 ( Armo ) Helm ( 2 ) El - Tir {{Yes}} ( Tir
* Voice ( Armo ) Helm ( 2 ) Tir - Ith {{Yes}} ( Ith
* Victory ( Weap ) Melee ( 4 ) Tal - Nef - Eld - El {{Polearm}} ( Tal
* Dream ( Armo ) Helm ( 2 ) Ral - Eth {{Helm, Barb helm}} ( Ral
* Dweomer (AKA revenge) ( Weap ) Staff ( 4 ) Nef - Tal - Tir - Ral {{Yes}} ( Ral
* Revenge (AKA Dweomer) ( Weap ) Staff ( 4 ) Nef - Tal - Tir - Ral {{Yes}} ( Ral
* Patter ( Weap ) Weapons ( 4 ) Tal - Ort - Tal - Tir - Eld {{Sword}} ( Ort
* Thirst ( Weap ) Melee ( 2 ) Eld - Ort {{Sword, Polearm, Orb}} ( Ort
Tradintion ( Weap ) Scepter ( 4 ) El - Ort - Nef - Ral {{*Staff*}} ( Ort
* Winter ( Weap ) Melee ( 6 ) El - Ith - El - Ort - Eth - El {{War Club}} ( Ort
* Enlightenment ( Armo ) Helm ( 2 ) Thul - Eld {{Yes}} ( Thul
* Still Water ( Weap ) Melee ( 2 ) El - Thul {{Spear}} ( Thul
* Mist ( Armo ) Helm ( 2 ) Amn - Ral {{Yes}} ( Amn
* Shadow of Doubt ( Armo ) Helm ( 2 ) Tal - Amn {{Yes}} ( Amn
* Vengeance ( Weap ) Weapons ( 3 ) Ith - Amn - El {{Sword}} ( Amn
* Infinity ( Weap ) Staff ( 4 ) El - El - Sol - Tal {{Yes}} ( Sol
* Last Wish ( Armo ) Helm ( 4 ) Sol - Thul - Ral - Ith {{Yes}} ( Sol
* Obsession ( Weap ) Melee ( 4 ) El - Sol - Ith - Tal {{Sword}} ( Sol
* Patience ( Armo ) Helm ( 2 ) Amn - Sol {{Yes}} ( Sol
* Question ( Weap ) Staff ( 3 ) Sol - El - Ith {{Yes}} ( Sol
* Amity (AKA friendship) ( Armo ) Shield ( 2 ) Shael - Tal {{Yes}} ( Shael
* Fortitude ( Weap ) (Club) (Hammer) (Mace) (Scepter) ( 3 ) Shael - Eth - Tir {{Scepter}} ( Shael
* Friendship (AKA amity) ( Armo ) Shield ( 2 ) Shael - Tal {{Yes}} ( Shael
* Humility ( Armo ) Helm ( 3 ) Ith - Shael - El {{Druid Helm}} ( Shael
* Prayer ( Weap ) Scepter ( 4 ) Sol - Eth - Shael - Tir {{yes}} ( Shael
* Prowess in Battle ( Weap ) Weapons ( 2 ) Shael - Ral {{Mace, Katar}} ( Shael
Patter

v 1.10 ( Weap ) Weapons ( 5 ) Dol - Ort - Eld - Shael - Thul ( Dol
* Whisper ( Weap ) Melee ( 3 ) Dol - Tir - El {{Polearm}} ( Dol
* Woe ( Weap ) Melee ( 5 ) Tir - Nef - Ith - Ort - Dol {{Polearm}} ( Dol
* Brand ( Weap ) (Scepter) (Sword) ( 4 ) El - Hel - Ral - Ith {{Yes}} ( Hel
* Hunger ( Weap ) (Sword) (Dagger) (Axe) spea(r?) ( 2 ) Ral - Hel {{Axe, Sword}} ( Hel
* Penitence ( Weap ) Melee ( 3 ) Thul - Hel - Ith {{Axe, Sword}} ( Hel
Storm ( Weap ) (Axe) (Hammer) ( 5 ) El - Tir - Hel - Nef - Tir ( Hel
* Ice ( Weap ) (Sword) (Dagger) (Axe) spea(r?) ( 4 ) Tal - Hel - Io - Nef {{Spea, Axer}} ( Io
* Lightning ( Weap ) Melee ( 4 ) Io - Hel - Sol - El {{Sword}} ( Io
Oath ( Weap ) Scepter ( 4 ) Io - El - Nef - Ort ( Io
* Red ( Weap ) Weapons ( 3 ) Shael - Ort - Io {{Sword}} ( Io
* Thought ( Armo ) Helm ( 2 ) Shael - Io {{Helm}} ( Io
Bone ( Weap ) Spear Wand ( 2 ) Lum - Eld ( Lum
Knight's Vigil ( Weap ) Melee ( 5 ) Ral - Nef - Eth - Lum - El ( Lum
* Obedience ( Armo ) Body ( 2 ) Io - Lum {{Yes}} ( Lum
* Sting ( Weap ) (Sword) (Dagger) ( 3 ) Nef - Amn - Lum {{Sword}} ( Lum
Wings of Hope ( Weap ) Melee ( 5 ) Thul - Tir - Lum - Tir - Ral ( Lum
* Deception ( Weap ) Dagger ( 3 ) Ko - Dol - Eth {{Kris}} ( Ko
* Envy ( Armo ) Helm ( 2 ) Ko - Tir {{Yes}} ( Ko
* Pestilence ( Weap ) Weapons ( 4 ) Tir - Ko - Tir - Sol {{Sword}} ( Ko
Purity ( Weap ) Melee ( 5 ) Tir - Amn - Ohm - Ort - Ko ( Ko
* Rift ( Weap ) Axe ( 6 ) Eld - Tir - Ort - Eld - Ko - Ith {{Yes}} ( Ko
* Temptation ( Armo ) Helm ( 2 ) El - Ko {{diadem}} ( Ko
^ Insight ( Armo ) Helm ( 3 ) El - Nef - Fal {{Yes}} ( Fal
Peril ( Weap ) Weapons ( 2 ) Fal - Tir ( Fal
* Pride ( Weap ) Melee ( 3 ) Dol - Fal - Eth {{Sword}} ( Fal
^ Serendipity ( Weap ) (Club) (Mace) (Scepter) ( 2 ) Ith - Fal {{Club}} ( Fal
^ Death ( Weap ) Weapons ( 5 ) Dol - Lem - Nef - Tal - Eth {{Flail}} ( Lem
Dread ( Weap ) Melee ( 4 ) Lem - El - Ko - Hel ( Lem
Jealousy ( Weap ) Weapons ( 4 ) Hel - Io - Ort - Lem ( Lem
Judgement ( Weap ) Melee ( 5 ) Lem - Ort - Tal - El - Amn ( Lem
Mystery ( Weap ) Staff ( 3 ) Sol - Eth - Lem ( Lem
Starlight ( Weap ) (Staff) (Sword ( 4 ) Lem - Nef - Tir ( Lem
* Thirst for Knowledge ( Armo ) Helm ( 2 ) Ort - Lem {{Yes}} ( Lem
^ Flickering Flame ( Weap ) Sword ( 3 ) Pul - Eth - Tal {{Sword}} ( Pul
Hatred ( Weap ) Melee ( 5 ) Ral - Thul - Pul - Io - Tal ( Pul
Kenny round 3 ( ) ( 2 ) Pandemonium Fortress ( Pul
Pillar of Faith ( Weap ) Scepter ( 5 ) Pul - Lem - Ith - Tal - Ith ( Pul
Plague ( Weap ) (Dagger) (Sword) spea® ( 2 ) Pul - Shael ( Pul
Youth ( Armo ) Body ( 5 ) Ral - Hel - Tir - Lum - Pul Impossible ( Pul
Innocence ( Weap ) Scepter ( 2 ) Ith - Um ( Um
Law ( Armo ) Shield ( 4 ) Um - Ral - Fal - El ( Um
Loyalty ( Armo ) Shield ( 3 ) Nef - Ral - Um ( Um
Nature's Kingdom ( Weap ) Club ( 4 ) Um - Eth - Um - Ral ( Um
Peace ( Armo ) Shield ( 4 ) Um - Ith - Eld - Lem ( Um
Glory ( Weap ) Melee ( 4 ) Mal - Fal - Tal - Eld ( Mal
Heaven's Will ( Weap ) Scepter ( 6 ) Mal - Hel - Ko - Shael - Amn - Ko Impossible ( Mal
Keny round 6 ( ) ( 2 ) U..M… ( Mal
* Punishment ( Weap ) Melee ( 4 ) Eld - Nef - Ral - Mal {{Unknown Item}} ( Mal
Grief (AKA widowmaker) ( Weap ) Missle ( 4 ) Lum - Ist - Eld - Eld ( Ist
Tempest ( Weap ) Weapons ( 4 ) Eth - Eld - Ral - Ist ( Ist
Terror ( Weap ) Weapons ( 4 ) Ist - Ith - Fal - El ( Ist
Thunder ( Weap ) (Hammer) (Mace) (Axe) ( 2 ) Hel - Ist ( Ist
Widowmaker (AKA grief) ( Weap ) Missle ( 4 ) Lum - Ist - Eld - Eld ( Ist
Wonder ( Weap ) Wand ( 3 ) Nef - Sol - Ist Impossible ( Ist
Darkness ( Weap ) Melee ( 5 ) Tal - Amn - Gul - Nef - Thul ( Gul
Destruction ( Weap ) (Axe) (Club) (Hammer) ( 4 ) Eth - Ral - Gul - Amn ( Gul
Holy Tears ( Weap ) Scepter ( 4 ) Ist - Ral - Tal - Gul ( Gul
Nightfall ( Weap ) Melee ( 4 ) Ral - Ith - Gul - Amn ( Gul
Sorrow ( Weap ) Melee ( 5 ) Tir - Nef - Shael - Gul - Nef ( Gul
War ( Weap ) Weapons ( 5 ) Gul - Amn - Nef - Tir - Nef ( Gul
Destiny's Daughter (aka elation) ( Armo ) Helm ( 3 ) Nef - Vex - El ( Vex
Elation ( Armo ) Helm ( 3 ) Nef - Vex - El ( Vex
Morning Dew ( Armo ) Shield ( 3 ) El - Vex - Tir ( Vex
Praise ( Weap ) (Scepter) (Mace) ( 2 ) Vex - Eth ( Vex
Reason ( Armo ) Helm ( 3 ) Amn - Vex - Lem ( Vex
Broken Promise ( Weap ) Weapons ( 3 ) Tal - Ohm - Dol ( Ohm
Madness ( Armo ) Helm ( 2 ) Gul - Ohm ( Ohm
Sting v 1.10 ( Weap ) Sword Knives ( 4 ) Fal - Ohm - Um - Lum ( Ohm
Truth ( Weap ) Sword ( 6 ) Fal - Um - Ohm - Vex - Nef - Lum ( Ohm
Chance ( Weap ) Weapons ( 2 ) Lo-Ral ( Lo
Desire ( Armo ) Helm ( 3 ) Lo - Ort - Ith ( Lo
Dragon ( Weap ) Melee ( 5 ) Um - Nef - Lum - Eth - Lo ( Lo
Kenny round 3.5 ( ) ( 4-6 ) Hratli ( Lo?
Lust ( Weap ) Melee ( 6 ) Sol - El - Ort - El - Lo - Eld ( Lo
Shadow ( Weap ) Claw ( 4 ) Lo - Ith - Ral - Thul Impossible ( Lo
Siren's Song ( Weap ) Melee ( 4 ) Lo - Thul - Tal - Lem ( Lo
Valor ( Weap ) Melee ( 3 ) Nef - El - Lo ( Lo
Wrath ( Weap ) Melee ( 5 ) Ral - Eth - Lo - Hel - El ( Lo
Fortune's Favor ( Weap ) Dagger ( 5 ) Eth - Amn - Sur - Hel - Vex Impossible ( Sur
Kenny round 4 ( ) ( ) AEF, Mesas? ( Sur
Kenny round 5 ( ) ( ) MAGES? ( Sur
Pheonix ( Weap ) Melee ( 4 ) Amn - Sur - Ort - Hel ( Sur
The Lovers ( Armo ) Shield ( 4 ) Gul - Fal - Gul - Sur ( Sur
Treachery ( Weap ) Melee ( 3 ) Sur - Ko - Vex ( Sur
Edge (AKA destiny's daughter) ( Weap ) (Axe) (Sword) (Dagger) ( 2 ) Ber - Ort ( Ber
Kenny round 2 ( ) ( 4 ) Blunderbore, Gorebelly, Mauler, Urdar ( Ber
Lawbringer ( Weap ) Melee ( 3 ) Um - Lem - Ber ( Ber
Piety ( Weap ) Scepter ( 3 ) El - Ber - Eth ( Ber
Spirit ( Weap ) Weapons ( 5 ) Mal - El - El - Ber - Shael ( Ber
Spirit v2 ( Weap ) Weapons ( 5 ) gul (typo?) el el ber schael ( Ber
Blood ( Weap ) (Axe) (Sword) spear? ( 4 ) Jah - Ber - El - Um ( Jah
Daylight ( Weap ) Melee ( 3 ) Amn - Tir - Jah ( Jah
Kenny round 1 ( ?Weap ) ( 4-6 ) Dune Beast, Jungly Hunter, Doom Ape, Temple Guard ( Jah?
Time ( Weap ) Staff ( 6 ) Sur - Gul - Ber - Nef - Jah - Ko ( Jah
Void ( Weap ) Melee ( 5 ) Amn - El - Jah - Ral - Pul ( Jah
Wisdom ( Weap ) Staff ( 5 ) Ral - Jah - Ral - Ko - El ( Jah
Armageddon ( Weap ) (Axe) (Club) (Polearm) (Hammer) ( 6 ) Amn - Jah - Cham - Sol - Amn - Ith ( Cham
Despair ( Weap ) Melee ( 5 ) Pul - Cham - Lum - Pul - Ort ( Cham
Faith ( Armo ) Shield ( 4 ) Fal - Cham - Um - Ral ( Cham
Rain ( Weap ) Club ( 2 ) Cham - Ith ( Cham
Trust ( Armo ) Helm ( 3 ) Amn - Eld - Cham ( Cham
Unbending Will ( Armo ) Body ( 4 ) ort cham tal tal ( Cham
^ Authority ( Armo ) Helm ( 3 ) Zod - Gul - Um {{I saw the screenshot}} ( Zod
Harmony ( Armo ) Body ( 3 ) Sol - Zod - Hel ( Zod
Myth ( Weap ) Staff ( 4 ) Ohm - Zod - Hel - Ith ( Zod
Nature's Kingdom v 1.10 ( Armo ) Body ( 4 ) Zod - Um - Jah - Zod ( Zod
Oblivion ( Weap ) (Axe) (Hammer) (Mace) ( 6 ) Jah - Zod - El - Io - Hel - Sur ( Zod
Principle ( Weap ) Melee ( 3 ) Zod - Nef - Mal ( Zod
Principle v2 ( Weap ) Melee ( 3 ) Zod - Nef - Gul (typo ?) ( Zod
Water ( Weap ) Melee ( 4 ) Eth - Ohm - Zod - Io ( Zod