Diablo 2 introduction:In Diablo 2 rare items is item type (yellow color) that have up to 6 random modifiers. Crafted items is item type (orange color) that have 3 specific modifiers and up to 4 random modifiers (numbers of modifiers could be controlled). Specific and random modifiers can add - characteristic of crafted items - to created item with bonuses that rare items could not get. Common examples are 20 FCR amulets, 25 Str Rings, 20 Dex Rings, 10 FCR belts, Knocback/Crushing Blow gloves etc.
Some of examples of crafed items I saw here on d2jsp:Crafted Amulet: 2 All Sorc Skills | 20 FCR | 20 All Res | 60 Life | 20 Mana (Best item I have ever seen, went for 27 500 FG

)
Crafted Ring: 10 Fcr | 14 Dex | 4 Str | 45 Life | 30 Mana (Crafted myself, went for 4500 FG)
Crafted Gloves: 20 IAS | 9% CB | 9 Str | 14 Dex | 18 Life | Fire Res (Crafted myself, little over 1000 FG if I remember correctly)
Crafted Gloves: 20 IAS | Knockback | 14 Dex | 15 Str | Poison Res (Best Bowazon gloves ever)
Crafted Belt: 10 Fcr | 28 Str | 60 Life | 24 FHR | 3x Cold Res (Awesome PvP belt)
None of this items could be ever found in game. In Diablo 2, crafted items are unique among others - with often specific modifiers that can not appear on rare items, or modifiers that can add to give bonuses higher than rare items.
Rare items could drop in game, could be gambled or could be rerolled using 6 Perfect Skulls recipe. Crafted items could be only created.
Diablo 3:Here are facts we know so far:1) Crafted items as of unique among others item type have been removed
2) "Crafted" now means that item was created - magic or rare (or set)
3) Some end game recipes were introduced, with 6 random modifiers (rare items)
4) Screenshots of rare items found in Inferno difficulty with 7 modifiers (only screenshots from Blizzard presentations, no official info)
5) No information about specific bonuses or properties of crafted items so far - it seems that random modifier means same on crafted and found in-game item (wowever low level craft recipes seems to work more similar to craft recipes from D2, so they have fixed modifier and 2 random or so - OFC nothing viable for end game)
Conclusion:It seems that crafting (that has nothing to do with crafting in D2 sense) will only give you rare item with 1 less modifier than what rare items from monsters can have. No specific bonuses on crafted items means no advantage over rares from loot, and less modifiers is OFC huge disadvantage.
It seems that crafting in sense of D3 is there to replace gambling and cubing with Perfect Skulls, which is good change for sure - getting rare items should be easier, less time consuming and perhaps even cheaper (6 Perfect Skulls cost some...). However price for this change is complete removal of one item type - awesome crafted items as unique among others.D3 crafted items will be nothing but common rare items - and possibly even overall weaker versions of rare items from loot.
Im not sure if Blizzard understand that - perhaps that they believe that "Crafted" means just that item was created, that it doest come with special properties and differences from rare items. It certainly seems so, as they are acting like nothing has changed and everything will be even more awesome compared to D2.
If you - just like me - are concerned with this current progression, please post this on US forums as I have only acces to EU and there are no Blizzard representatives active. Post here/send me PM with link to that thread please.This post was edited by DJVibrejtr on Sep 25 2011 08:19am