The "Elemental wheel" does affect crafting.

If you are using a wind crystal you will have better HQ rates under certain conditions during Iceday and Darksday, and worse HQ rates during Earthsday and Lightsday.

And unlike the "direction matters" people I have data to back up that claim:

http://ffxi.allakhazam.com/forum.htm...388898652&h=50

In order to go from "elemental wheel matters" to "Direction matters" you have to show evidence that a link exists.