Can you play like that without crafting on master difficulty though?
yes it might not be fun but yes
I have a naked DR of 80 you'll have it at 85 by smithing armor. That 5% really doesnt make or break you.
I'll have Magic Resistance at 85 naked and that is the max
Damage output is severely limited by not smithing and makes it so that you are occasionally reliant on summons. Still when you end up getting 2 Dremora Lords there is really nothing that can stand in your way.