Yes in the end blacksmithing has good ENHANCEMENT things such as Fel iron armor runic hammer, storm helm.
(Hammersmith) Thunder,drakefist (improveable)
(Axesmith) Planar edge, Lunar crescent (improveable)
While leatherworking has good armor such as the Ebon Netherscale armor (i dont know very much about leatherworking because i have never had one before)if you plan on going elemental at 60 or 70 or whenever there is Netherstrike which is really good 70 elemental armor.