Well, I am not as thrilled with the 300% vs. the originally proposed 200% ... but that *could* be bias
I am very eager to test this and see how it looks in practice. For all I know, 300% could be a perfect number.
The originally proposed 200% would have created MUCH better balance. Sorry, but at 3 x 100 intensity mods on top of something that already has 2 x 100% mods is just not far enough and will alter very little the current situation, and I am not bias

. (On a personal basis, ie as in the potential for me to prosper, I would leave it as it is, assuming that I was wanting to banksit and just rake in money.)
If it was up to me, in terms of game play and longevity of skills, imbuing and all other crafting skills, which most of you will probably be glad it isn't, lol, it would be ONE mod at up to 150% with a cap of about 400 on crafted stuff and 350 on looted stuff. However, I would allow you to imbue special material gear, like barbed, spined, verite etc items so that those materials don't become worthless as people using kits will only bother to craft in plain resources or risk not being able to imbue. Thus making all other resources redundant. I just wouldn't let you 'unravel' them for ingredients.
You need to remember each character has a MINIMUM of 8 slots to imbue, so potentially, and with the current EASE of adding those mods, that is
24 maxed out mods on TOP of the other 16 mods that are on the items already. Add to that a 'weapon/shield (also able to be imbued) and/or spellbooks that can already have some UBER mods, with crimmy, cloaks, boots, robes and basically it will still be 'everyone' sitting around in fully maxed out gear within less than 6 mths. Not counting those 'arties' such as orni etc that already have super high % intensities on em.
ATM I find you can create a suit to cap most mods with just 3 mods maxed per item and if your careful with what 'base' items you start with you can pretty much get your resists up into the high 60's with little trouble.
Dexxors under this system will always have that 'uber' weapon and it will be so easy to 'craft' another when one runs out that it wont be an issue.
Petra has already shown in the SA beta forum that 'training' imbuing is not going to be that hard or expensive, I expect we shall have 120 imbuers within the first week (probably 2 days) of this going live onto production shards. I give it maybe just 6 mths, even with a drop to 300%, before people are standing at the bank wondering what to 'do' as nothing they will loot or craft will be better than their existing 'imbued' gear.
PVP'ers won't care as it is a different 'game', most only want the 'best items' yesterday and don't care how they get the items, however anyone who plays a pvm game for loot and enjoyment is going to wonder why they are playing. Once you have all the 'uber' gear, and there is nothing to 'kill' to get anything 'better' or nothing 'left' to surprise you with 'wow' I finally got the 'perfect' ring or the 'perfect' set of arms for my char, what are you going to do with your time?
It took me 7 yrs to get my ladies in suits (and to build up a selection of nice armors/jewelry to be able to take advantage of changes to skills/mods etc) that are comparable to what I can create with an imbuer in a few HOURS.
If imbuing had been around when I started UO I guess I would of played for 6mths til I maxed them all out then quit. Same as what I did in WOW. Played it for 6 mths to get a char to lvl 80 in wotlk, realised that once I ground out rep with xyz faction for this item or that item (the 'best' item for my class) then I would have 'everything' I needed. I walked, too easy, not much point in going and defeating 'this boss' or 'that boss' when there was nothing 'better' to get. Not only that, you looked at my char then someone else's and another's' and they were all identical accept for hair color.
Be interesting, if nothing else, to see how this pans out. I wouldn't take bets on people wanting any 'artifacts' anymore tho, cept for ones with 450-500% of choice mods on em to start with tho.
Be very careful what you 'wish' for ppl, it may come true.