Suggestion: Character knows the recipees for the basic tools of their chosen crafting profession on creation. These recipees would require no tool for creation, only resources. Player inventory does not contain starter tools on creation.
IE: Rock hammer. Requires 2 very common harvested items to be determined (stick and rock?).
Balancing FactorTools created from basic recipees have a limited number of uses (testing required to ensure recreation of tool is deterent to overuse). All items created using basic tools will be of the lowest quality. Basic tools can only leave a players pack through destruction (non tradable, non storeable). Only one instance of any basic tool type in player inventory at a time.
NeedAllows a player to "get back on their feet" should they find themselves devoid of all items due to death/vanishing tool bug/etc. Allows for basic functionality of character role while forcing/encouraging the player to upgrade to better tools.
I think the main thrust of a topic like this is ppl losing their starting tools when they enter the game. As far as solutions go, I tend to side with the argument that the tools you start with be unlootable (as well as clothes). I think it would have the effect of keeping down the number of griefers who prey on the noobies and potentially sour their initial experience in the game.
The reason I think this is a better solution to the one you are proposing is that if you make it too easy to craft tools, even starter tools, you dilute the economy to a certain extent.