At work now, some thoughts that popped up reading this:
1. Item repair for smiths is cool, but would still need a forge (unlike sharpening I mean). Maybe install forges in places where it's appropriate?
2. It's not clear to me: Is repairing a broken item free for smiths (just go to a forge and do it yourself if you have the skill) while it costs 10-20-50pt for anyone else? Do both costs exist, thus needing to pay the costs AND have a skilled repair the item for you (or do it yourself as a blacksmith of course)?
3. I guess worn equipment means backpacks as well. What about the contents? Each item will have a "save-able" boolean and it's kept as long as it's either worn, wielded, or in a worn container?
4. Will the balance of utility between blacksmiths and herbalists be broken? (mariners are a lost cause I guess
5. As a ranger, disabling disarm doesn't trouble me too much since the guild is broken anyway. In general, though, maybe it's a bad idea to disable various combat moves that may come up as ideas for current or future guilds even relating to enemies' weapons and armours. We could make such moves work only during combat or something. Thieves should be able to steal something as well, maybe they can do it while the target is distracted within combat or otherwise? They'll be left without a craft to practice if they can't steal! We should definitely come up with consolations to those cases or any other that I'm missing.
6. Permanent items, what of them? I have to hold the staff of Aeria to save it instead of my weapon or shield? They could have their own 'slots' that don't interfere with other items, slots being enabled only when you gain the respective items. Something like back sheathe for the staff, belt hang for the arraw horn and whatnot.
7. General notion: Racks will probably become more... genuine. People will actually put stuff there because they want to share, not because they have to. My guilds in both skins would still have their racks full, I believe. For other guilds like Mercenaries or others that won't be the case maybe, but that will only be depicting reality which can naturally evolve from there.
I skipped too much work