Whoops, I missed the caster levels. Usually they have their own separate column, they blended right in.
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Does this class require you to be a caster? Should it?
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Eldritch Crafter: Interesting ability, makes the Master Crafter very versatile. I note a few problems/omissions:
1. How many times per day can this ability be used? (I suggest it eats up a spell for the Master's spells per day of the appropriate spell level. Or maybe 2 spells, or spell level+1 or something, since it's so versatile. Or maybe not, since it's just used for crafting.)
2. What happens if it fails? Is XP lost, material components? (If you use my above suggestion, are the spell slot/s lost?)
3. The caster level required for many spells is different for different classes. How does Eldritch Crafter deal with that? (I suggest making the limit "The highest level that the Master Crafter can cast.")
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Imbue Item: Presumably, since this is only a temporary buff, this will be used by the Master Crafter for himself or for his party. I think you could simplify it a great deal, maybe...:
"The Master Crafter can imbue items with temporary magical properties. For each level of Master Crafter he has, he can add +1 point of magical ability to any armor or shield. For every two levels of Master Crafter, he can add +1 point of magical ability to any weapon. The items must be masterwork, but they need not have the usual +1 weapon enhancement bonus already. The points of ability may be used on one item or distributed among several. This ability can be used once per day per point of ability distributed, takes a full-round action per point of ability distributed, and lasts 24 hours. For example, a 3rd level Crafter can enchant a masterwork breastplate to be a +2 Breastplate with Light Fortification, or a masterwork longsword to be a Flaming Longsword and a +1 Light Steel Shield to be a +2 Light Steel Shield."
... Okay, I admit, my version's a bit confusing too.

Think about it, though. You might add the stipulation that the item being imbued must have been crafted by the Crafter.