I think it’s gonna make more depth if we can refine our current equipment. Each refining need more rare materials than the previous one. Just my 2 cents.
I’d love to see an expansion of the current crafting system to include some kind of reforging of items. If not in the base game, definitely something to consider for the expansion.
There’s a mod for D2 called “Eastern Sun” that has a really cool system for improving items called D-Stoning. Check it out here!
The general gist is that you combine a D-Stone + Some Material + Some Item to enhance an item with a certain desired stat. Different items give different stats. Components would be the obvious choice in Grim Dawn. The drawback is that D-Stoning your items raises the level requirement of the item. This system works very well and opens up a lot of options, because lower leveled items have more “room” to add enhancements, making them relevant in even end-game builds.