I'm not a crafter, but I found this to be a monumental event given that it is a first for EverQuest II. Niami Denmother puts it best:

Through much hard work and significant cooperation, crafters banded together to work through a questline that hearkened back to the days of EQ and the "PoTC Earring" as it was often referred to, and tried to recreate the long-lost Earring of the Solstice, only with a very decided crafter twist to the final product. More importantly, in many people's eyes (yes, we really do like our fluff that much!), they were then able to claim a Master certificate for their home, and a class-specific cloak.

Read up on what Niami has to say on this event and please visit EQ2 Trader's Corner for her Epic Overview!