I was flipping through the modifications, and noticed that Weighted Head can only be applied to "bludgeoning" melee (and occasionally brawl) weapons.

However, it requires 2 hardpoints, and the only melee weapons (and there are no brawl weapons) that have 2 or more hardpoints are Force Pikes and Vibro-weapons -- none of which should qualify as bludgeoning, since they're edged or thrusting weapons.

What should I make of this?

Also, anybody want to offer insight on how to fairly price, say, a truncheon with hard points?

This is being discussed on the d20 boards and the general concensus has been that we simply don't have all the weapons on hand that will eventually be offered. Instead of waiting until a bludgeoning weapon with a hard point of 2 has been introduced, they opted to make all the rules available in one source and added Weighted Head to the core rulebook. We will likely see a viable option published eventually. Or, as you may be doing, one can create their own!