When you see "base power too low" it is because there is a purple mod in it. The purple mod gives plus 5 power, therefore the base power is actually 294 if the weapon is 299. You must have your numbers wrong, because you would have been able to bring a 292 up to 294.
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That's not the case. I've already been through this on my own.
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I've never come across base power too low at any time other than when it was actually too low. If you've double checked the numbers then it sounds like a bug to me.