I was weary and irked at the start when I finally got to crafting just recently with this new system. It did feel like a bother, but after learning more, it hasn't really changed much. The timeouts are relatively the same, but in a different order. Which, actually IS nicer this way, as it does a few things.
-Things are still the same time to do them, like before. Except its been reversed. Previously it was: Slow, drawn-out wait (as you mine the materials gradually) before reaching the required amount after so much time mining, and then instantly(almost) crafting whatever it is you wanted.
The new method simply puts the 'wait' period at the end instead, letting you logout, or go wander and die for doc/fa XP if you want. It has freed the person up and has kept the formula the same throughout.
-Another thing which of note is that some are acting like tons of people don't crafter alt. That is one of the big things, but as it is, its gonna happen quite often and continue to do so at present until effective measures against it are put in place. Also you should note that people are botting and alting to get crafting done/mined anyway. (NOTE: with the new method, it helps stop spam crafting on bots as well. That pile of materials you got sitting there from our bot mining all night is now worthless. The new crafting cooldown means that despite the cheating, he STILL has to wait for the crafting cooldown to finish, whereas before he could craft-spam with a buncha resources. Yet another perk to the new system)
It now lets a leisurely player, if they so decide to, craft plenty of XP of an item then logout. If you mine for a period of time the day before, you can burn through it all in 15 minutes of playtime that you manage to spare the next day, and still get the XP, except more efficiently spread apart and being railroaded into slow mining... like previously.
All in all, the system is an improvement once you get past the initial annoyance at the change. It has changed nothing except speed the whole process up, thus freeing the players to do anything they want afterwards. Which includes xping another crafter if they so wish...