Crafting jewelry is being talked about if not being worked on (like weapon dyes). That being said though it is gonna be a 2 sided coin. The plus side you can craft your own jewelry with it's own trait although be only 3 health, magicka, and stamina and most likely craft a set using jewelry too which means a player can have 2 crafted sets active at once.

How it might work ? well their are 9 traits and only 3 on jewelry so really it be simple 2-3 trait sets need 1 trait, 4-6 need 2 traits, while 7-9 traits need to know all 3 traits for jewelry. Time wise well 1 trait would maybe take a week to research 2 be 15 days and the 3rd let us say take 30 days.

Pros and cons of this ? Well of course the pros are crafting 2 sets or having a dropped set and crafted set and so on while having the traits you choose instead of the games busted RNG.

Cons is that you can have alot more power from having multiple sets cause laws of Julionos with seducer or eyes of mara could be for a very powerful magicka build or hunding rage with vampires kiss for a very high damage and crit damage build.

So it's hard to say if it be balanced or not but to have say a monster set a crafted set and 3 more slot to spare (not including weapons) does seem temping or to have 2 entire crafted sets active cause say hist bark with whitestrakes could make for a really good tank set up.