JEWELCRAFTING
Like the name suggests, this profession allows players to create beautiful jewelry within ESO. As with other crafting professions, it is necessary to extract raw materials into craftable ingredients. Gemstones are required and are extracted from ore. Ten ore of the same type are consumed per prospecting attempt in an attempt to extract 1-5 gemstones. This will destroy the ore in the process. The Prospecting passive will improve your chance of extracting gemstones. You will also require precious metal (copper, silver, gold, and platinum) to construct the base item, such as: crowns, rings, and necklaces. There are seven levels of gemstone quality, namely Normal, Fine, Flawless, Perfect, Radiant, Illustrious, and Exquisite. Gemstones bought from vendors will always be of Normal quality. Quality can be increased with polishing. Polishing is synonymous with Tempers from Blacksmithing. The Polishing Expertise passive will increase your chance of improving items with polishing. Gemstone Cuts are synonymous with Traits, whereby adding special properties to the crafted item. Players will learn Gemstone Cuts via Jewelcrafting Recipes, which can be found throughout the world of Tamriel (highest level recipes will be dropped from bosses). There is a wide assortment of recipes and have various levels of rarity, namely Fine, Rare, Epic, and Legendary. The Jeweler Design passive will allow the use of said recipes. Here is a possible layout...

Craft:
Jewelcrafting Station (consists of a grinding wheel, calipers, chisels, and hammers)

Base Item (equipment slot):
Crown (head)
Ring (finger)
Necklace (neck)

Example of a beautiful crown;
http://upload.wikimedia.org/wikipedia/commons/a/a4/ImperialCrownOfIndia2.jpg

Precious Metal:
Copper Ingot
Silver Ingot
Gold Ingot
Platinum Ingot

Precious Gemstone:
Citrine
Opal
Jade
Amethyst
Aquamarine
Topaz
Sapphire
Emerald
Ruby
Diamond

Gemstone Quality:
Normal (Default)
Fine
Flawless
Perfect
Radiant
Illustrious
Exquisite

Gemstone Cut (learned from Jewelcrafting Recipes):
Round – Increase Stamina
Oval – Increase Weapon Attack Speed
Marquise – Increase Armor and Spell Resistance
Pear – Increase Armor and Spell Penetration
Heart – Increase Health
Emerald – Increase Weapon Enchantment Effect
Princess – Increase Monster Experience
Trillium – Increase Weapon Critical
Radiant – Increase Magicka
Cushion – Increase Spell Critical

The gemstone cuts;
http://images.forwallpaper.com/files/images/4/43d8/43d87d37/843069/gem-cut-chart.jpg

Jewelcrafting Skill Line (passives):
Prospecting (Rank I): Improves the chance of extracting gemstones from ore
Prospecting (Rank II): Greatly improves the chance of extracting gemstones from ore
Prospecting (Rank III): Maximizes the chance of extracting gemstones from ore

Polishing Expertise (Rank I): Increases the chance for improving jewelry
Polishing Expertise (Rank II): Greatly increases the chance of improving jewelry
Polishing Expertise (Rank III): More than doubles the chance to improve jewelry

Jeweler Design (Rank I): Allows the use of Fine Jewelcrafting Recipes
Jeweler Design (Rank II): Allows the use of Rare Jewelcrafting Recipes
Jeweler Design (Rank III): Allows the use of Epic Jewelcrafting Recipes
Jeweler Design (Rank IV): Allows the use of Legendary Jewelcrafting Recipes

Stonesetting (Rank I): Can create jewelry with Citrine
Stonesetting (Rank II): Can create jewelry with Opal
Stonesetting (Rank III): Can create jewelry with Jade
Stonesetting (Rank IV): Can create jewelry with Amethyst
Stonesetting (Rank V): Can create jewelry with Aquamarine
Stonesetting (Rank VI): Can create jewelry with Topaz
Stonesetting (Rank VII): Can create jewelry with Sapphire
Stonesetting (Rank VIII): Can create jewelry with Emerald
Stonesetting (Rank IX): Can create jewelry with Ruby
Stonesetting (Rank X): Can create jewelry with Diamond

Hireling (Rank I): Hireling will send you low quality gemstones
Hireling (Rank II): Hireling will send you low-to-medium quality gemstones
Hireling (Rank III): Hireling will send you medium-to-high quality gemstones

Thoughts/Opinions?