Err, no. Sorry. It's the sort of thing that sounds great on paper ("No levels! World PVP that matters!") but then breaks down horribly in practice. With no levels, players will quickly find another way to gauge progression in a similar fashion. And, attributes that you can level individually open the door for horribly overpowered characters. Much like Runescape, you could theoretically have a bunch of Super-Mary Sues running around with max stats in everything. In fact, it would then be necessary to max out certain desirable stats to compete in the end game. That's just throwing another grind into the mix.
The idea of players being able to craft everything is decent--again, in theory--but would be difficult to balance economically. Players without much money would be disadvantaged in every facet of the game, given that they wouldn't be able to obtain gear easily in other methods. Because it's tough to have a happy medium: Either players gear through crafted items, or they don't. Only the richest of players would want to purchase a full set of gear if they could reasonably run a couple of dungeons to obtain equivalent equipment.
Those are the biggest issues that I see at a glance. I could break down every point further, but I don't think that's necessary for anyone here. The takeaway is just this: Designing MMORPGs is a lot harder than most of us would give it credit for.