Advanced reading here, including a great table AFFECTED ITEMS (items that will have some functionality changed at rework)
https://runescape.wiki/w/Mining_and_Smithing_rework
Further reading tho like similar to above:
https://runescape.wiki/w/User:Suity/MSRework
If you have a pick you can augment, I recommend Honed & refined.
Their effect at the rework will be:
Honed - 2-10% double ore chance.
Refined: 2-6% increased chance of obtaining a geode.
To see what components you need:
https://runescape.wiki/w/Honed
https://runescape.wiki/w/Refined
I suggest not bothering with refined 3 - good luck if you can get it, I've tried.
Enhancing comps will get you refined 2 easily.
For Honed, I probably went through a bit over 1000 Sharp components to get a Honed 5.
Honed 4 will be gained easily.
I suggest augmenting a crystal hammer if you have access to one.
https://runescape.wiki/w/Augmented_crystal_hammer
The perks I have are Rapid & Tinker.
Their effect at the rework will be:
Rapid - Heat is lost twice as fast, but progress is earned 5-15% faster.
Tinker - 2-6% chance of making double progress.
Don't use rapid if you plan to afk smith.
Another good option, particularly those newer to Invention, is breakdown.
Breakdown - 0.8-4% chance per bar used in creation of an item to give the same components that would have been gained for disassembling the item, with the item remaining intact.
To see what components you need:
https://runescape.wiki/w/Rapid
https://runescape.wiki/w/Tinker
https://runescape.wiki/w/Breakdown
I suggest for rapid you don't bother with shifting comps - I get efficient 3 every time.
I eventually got a Rapid 3 using about 1000 enhancing components.
For Tinker I may have got lucky - I got Tinker 3 first try using clockwork components.
There may be other or better options for you, check the page link above for options.
I have not got Breakdown so can't advise for that one.
Other options you may consider include Wise, Enlightened, but I don't think they are nearly as effective as the above perks.