I think low lvl crafting is just fine, but just for the heck of it i ran some numbers.. if you focus on only crafting lets use a bow.. then i think the highest you can get for a multiplier before the roll is +64. that includes racial bonus, max int, skill focus, favored class bonus. feats. tools ect.
now you want to craft a composite longbow +5, cool weapon but you would expect a few months craft time....
50400 in gp -> 168000 silver / dc of 35 (25 for wep, 10 for speed) * 74 (taking 10)
168000/(35*74)=64.9 weeks... over a year and your a god of crafting.
the higher levels make crafting not worth it at all for anyone. as a gameplay mech nobody would use it past lvl 3.