The only real value to the armorer/crafting skill is as in Oblivion: as I recall, at level 50 you can repair magic items, at level 75 you can repair them to 125%, and at level 100 your hammer never breaks, so 1 will last forever. You can find silver, gold, & thorium ore and ingots but you can't make anything with them, nor can you make much except basic swords. Apparently they had plans for much more crafting, but it never got completed. Somewhere else in this forum that is addressed, as I recall.