My smith is 16th level, fighter 4/wizard 12. He auto-successes every possible aspect of smelting, smithing, and gilding present in game right now. He tans at about a 60% success rate on the special hides, and auto-successes all the normal ones. It took roughly 20 hours of game time only to get from smith 25 to 55, broken up into three clumps, including getting the coal and iron. Gilding took maybe 10 hours to get to where her could auto-success it all, in three main chunks.
If a system is put in that in any way allows power-crafting and mass producing, he'll be auto-successing eveything possible to make within two weeks of the system being implimented, and everyone will have magic weapons.
Soren has said enchanting will eventually be implimented. When it is, hopefully it will be done in a way that will keep the items made rare, and thus valuable, to cover what will undoubtedly be an involved process. The moment you can make a magic weapon with no chance of failure, and minimal IC and OOC effort, there will be a problem.
The dungeons are balanced based on ~needing~ casters of certain levels to do them, without a massive use of consumables, or a fantastic build. It's why PfE isn't likely to ever get nerfed (no matter how many times I say it should), because it gives use to even a low level caster in a dungeon.
This rambled more than I intended it to, hopefully the point I'm trying to make is obvious enough still. I'll add to it later if it isn't.