It seems they start you off with two basic Leather sets. A caster/healer set and a melee set. The materials don't seem too awful really, but I haven't had an opportunity to run around with a character that has Skinning very much, so that remains to be seen. At the very least, the two types of armor kits you get look like simple skilling recipes, and they won't be a total waste. You won't want to spend a massive amount of gold getting higher quality enchants and armor kits for your leveling greens, but these will do just fine in that spot.
We've snagged screenshots of all of the currently implemented recipes, so click on the gallery below to take a look.