I like the idea that making certain pieces of equipment would be recipe based. I believe that you have other very good ideas [because they agree with mine

] ... Some of your other ideas I think would be a waste or worse. I'd honestly prefer to merge your ideas with the existing systems:
-- I'd still have a generic "smithing" perk where you could dump 5 points in to improve the results of everything in a similar manner to which you can already do ..
-- Arcane Blacksmith would stay because you do need a way to improve a pre-existing magical item
-- I like Blueprinter as a skill. I think I'd make it a L60 requirement skill so it puts just a whisker more focus on finding or potentially "buying" / questing for a recipe.
-- The "Enchanted Materials" perk should probably be redone from scratch. I think a "Special Materials" perk [or perks] to allow you to work with Glass, Dragon, or Daedric materials would be reasonable. As for the "special effects" I believe those should be in the game anyway and inherent regardless of any other perks you have. I.E. if you make something from Dragonbone / Dragonscale maybe it gives an Elemental Damage reduction and/or buffs shouts in some manner. Using this sort of system Daedric armor may still have the best armor value but Dragonbone Plate may still be "better" because of the special buffs that come with the armor.
-- I believe a better result for "Master Worker" or whatever you'd want to call it would be a 5-10% weight reduction while keeping the same damage / armor value / etc. A reduction in material costs probably doesn't really buy you too much.
-- I theoretically like your idea of a branching tree where you can choose one or the other option but not both. If we implemented this though we should probably redo ALL the other trees / game engine / logic and I'm not really willing to do that [yet].
-- Being able to merge a ring with gauntlets [and then being able to wear a different ring] would be "too much". The Jeweled Equipment perk would be too much ...