...
The BOD system is what it is. The best fix they made was to give 100+ crafters better pulls and to allow you to turn in a deed to get a new one (which means once you get up a decent supply of "deeds to do", you don't need to script BOD pulls, just fill and turn in.
The Smithing BOD system is fairly well useful with good mining tools (yes some people still mine), Powder of Fort (even more necessary with Imbuing), and the runics (which while their purpose has changed, their usefulness has not).
The concept of UO in terms of items and crafting has changed. It's no longer the simple loot and equip or make and equip with a minimum of skills or actions, now you have to consider how something is useful in different ways.
Example: You loot a bunch of iron items, all of them are "junk" nowadays. Obviously if you've been playing years you know that you don;t need to ID them and that you probably won'tactually use them. You have 3 choices: 1. Smelt into ingots, 2. Use to fill junk BODs (granted this is only useful if you're willing to devote the time and storage to do this), or 3. Unravel into Residue/Essence.
Imbuing plays off of the Smithing BOD system MUCH more than the Tailoring one though it seems, but the systems aren't useless if you know how to play them.