I think the upgrade being referred to is the following: In 4.3, they allowed us to upgrade the crafted DoW/DoM gear from ilvl 350 to 360, although you also had to buy some tome items to hand in with them.

As far as the gear for crafters themselves, this (i.e. 340 crafted gear) should be the strongest gear for the expansion, I think.
I think they might add another set to help people catch up - I didn't really do as much crafting in HW but I think there was a set released near to the end that wasn't as good as the gear added in 3.4 but was much easier to craft.