Quoting Cirith Gorgor: "So the crafting update was started at a time when the team was much, much larger than it is right now and it was possible for there to be a focus on multiple systems/areas of content at the same time."
Crafting revamp seems to be a distant mirage where many hopes for the game are placed. Great expectations and the "game quitting" attitude if Funcom does not deliver something huge. Personally I like the way low levels crafting is done now and think that just adding plenty more recipes could be an easy way to fix crafting.
I have little hope in seeing crafting revamp in AoC, but I would like to know what are the inovations players are hoping for, so my vote for a crafting revamp pull or forum debate.