1.2 PTR Patch Notes are up including those for crafting. http://www.swtor.com/community/showthread.php?t=363056

Power increases your damage on skills (has no diminishing returns) and Surge increases the magnitude of crit damage (DR at 75% with a cap of around 80%)

For cybertech, earpieces and droid parts can be RE'd into various prefix forms and armorings/mods will follow the linear path. But the market for crafting currently is not very good. You're almost better off just selling ship parts. No, crafting changes have not been implemented yet. Most likely it will come in the delayed 1.2 patch.

Yes, those can be RE'd.

Anyone have screenshots of the crafted GenoHaradan Agent's Pistol and Rocksteady?

The way crafting works in this game, mastercraft (or just T2 crafting in general) items are generally meant for people to gear up before they head into HM FP or operations. The tertiary stat gains (you gain accuracy, surge, shield, presence, alacrity) from T2 prefix do very little in terms of overall dps on an item you can easily replace in a few levels. Also the sheer number of tertiary stats you gain on a level 20 item is very small (~5 compared to ~40 on a max level item). Another thing to think about is the likely hood of learning the schematic for the stat you want. It's just a big credit sink which you should be saving for your speeder anyways. You don't gain more of your primary stat when you learn any of the upgraded schematics which in the end is what matters the most. Honestly, if you want a really nice item to level with that is worth the time and effort. Just learn the T1 prefix (power, crit, defense), which I would recommend getting power, and try and get an augmented version of that item. It's not purple, but it is just as good for leveling purposes.

Just some points reiterated with a few tidbits of new information. Source: http://www.swtor.com/blog/community-qa-feb-24th-2012

^ crafters can only make helm, chest, and legs.

Best you can get by yourself is the one mentioned from daily commendations (same level as Tionese). The Columi/Rakata weapons have better hilts but are currently locked to the item.

Currently, only orange weapons can be crit crafted (augment slot) both guns and lightsabers. But BW has mentioned that in the next big patch in March that orange armors will be able to get augment slots also.

Check a couple levels down. There's a recipe for a Nerve Dampening module or something like that with the stats you are looking for and has a lvl 47 requirement.

Nope, just keep at it. I have that recipe for the exact item you have Fervor Ion-Charged Power Device. I was going for the crit/surge version as I've learned that there already is too much accuracy on smuggler/agent gear and in general surge is a more useful stat to obtain.

Check out the RE guide: http://www.swtor.com/community/showthread.php?t=258426 For biochem, the stims/med packs/adrenals follow a linear path. The implants you create go through the prefix route.

I don't have the link atm, but BW has stated that RE (and crafting in general) isn't working as intended and have some changes posted in the near future. My guess is the March patch, but we shall see.

Yes, you can crit an augment slot on relics. A newbie I was doing dailies with just dinged 50 and went 2 for 2 on his Rakata relics. Some people have all the luck.