I hadn't actually thought about this until now.
TBH I'm expecting a very bland generic MMO style of crafting with a TES theme. Alchamy for potions/consumables, smithing/leather craft for amours and weapons, enchanting maybe for some other kinds of items.
What I would REALLY like to see is a complete player economy much like EVE Online where a large portion of the games items are built by the player base, however that would also require the game to have a way of removing them or everything would become over supplied. It would also be nice if you could have the towns merchants sell your wares for you and not have one central auction house meaning players could buy low in one province and sell high in another making actual trade a proffesion.