The Crafting system that Age of Conan has has so far not been touted much.
When you start reading the Interview that Funcom Community Manager Shannon “Pharamond” Drake held with AOCMMO, you soon start to realize why.
She puts it like "There is not a “hammering the air bubbles out of your molten iron”-type crafting system in place." which is an obvious reference to systems like in Everquest II or Vanguard. Instead it will be more like the collecting and gathering system most will recognize from WOW. To those who enjoy a full crafting sphere, it will seem like the actual Crafting itself is somewhat missing. Probably because it is.
The challenge in the Age of Conan crafting system comes from ... Getting the right materials which is saying, we don't have a crafting system, but we will have a trading system, probably.
But the true gem of the article is probably the thinly veiled admittance of neglect: “Generally happy with what we have while always trying to do better” as the statement how Funcom feels about it. Which is Community Management speak for "this is what we could slap together on short notice with limited resources and no overall vision".
Read the full Interview at AoCMMO and pray that the overhauled combat system will keep you happy. Sounds like Crafting won't do it.