Well, a few questions; what do the little tiny circles in the top right of an item indicate?

Also the rarity of gear, I understand, but is it an arbitrary rarity system, or based on item level somehow?

Is there a way to view an armour or weapon's high quality stats without owning the item?

And finally is crafting weapons or armour worth it at all, or do the crafting classes (no offence to people who enjoy crafting) become redundant due to the higher level gear available from raids or dungeons, etc.?