What will Engineers be able to Reforge?
Blizzard mentioned trinkets, but I would also guess that guns and goggles would be on that list. They also claimed that we might see Engineers making bows and staves, in which case, they would likely also be able to Reforge those.
Keep in mind that Reforging is not just about the items that you make, it's about the items that you can make. This means that an Engineer would be able to Reforge trinkets acquired through badges, raiding, heroics, PvP, and more. It will also be a skill that we will allow us to perform the service for others.
Couldn't we use Reforging to repair armor and weapons ourselves while keeping the cost built in?
This question refers to something that I touched on last week. When asked if Reforging will allow us to finally repair our own gear, Blizzard answered that they like the way that repair costs work now, and the upcoming related changes (for example, guild talent trees that could increase gold gains and lower repair costs), it isn't something that they want to do.
A couple of readers mentioned in the comments section that the cost wouldn't have to be eliminated. Rather than paying it to the <Repair Guy>, we'd pay the Trade goods vendors for the materials, such as thread.
Blizzard has ruled out this possibility as well, stating that repair bots already perform this function. In fact, Ulduar has a vendor that will repair your gear that you can teleport straight to, and many parts of the dungeon are considered to be "outside," allowing players to mount up. Anyone with a Grand Caravan Mammoth, purchasable in Dalaran from Mei Francis, can mount up and allow players to get repairs.
Hopefully, Blizzard will continue to use and expand on this design.
Read more about Reforging in BlizzCon 2009 Insider Trader: Cataclysmic professions, part one.
Woodworking: Will we ever see it?
Despite our best imaginary efforts, Blizzard still does not feel that there would be enough craftables to warrant making Woodworking its own profession. Yet.
Gathering lumber has been a part of Warcraft history, and so the possibility of a related profession is "on the back burner." It seems that if at any point there would be enough relevant objects that could be crafted to fill out the profession, Blizzard would implement it.
It seems that Blizzard is dissatisfied with the way in which professions specializations work. Originally, specializing was a means of creating variety and niche work. Now, Blizzard is claiming that they would rather see this happen through gameplay.
This would mean that we would all be able to learn the recipes from the different specializations within our professions. Through drops, reputation grinds, and who knows what else (Archaeology? Path of the Titans?), we'll be able to differentiate ourselves.
Finally, I am skipping over one big announcement because it was summed up so well by Michael Gray: Class Specific Buffs Become Craftable Items. Blizzard has devised a way to use professions to grant raiders access to important class buffs (such as Kings), without having to bring that class, which can be an issue, especially in 10-man raiding guilds.