Weapon Smithing will allow players to create *Drum roll* Weapons! Weaponsmithing can create the following types of weapons: Daggers, Swords, Maces, Polarms and Greatswords. They can't craft Bows, Staves or Spellbooks/Orbs. Those items are tied to Handicrafting/Alchemy. Weaponsmithing can create excellent weapons, So if you're a Gladiator/Templar/Assassin that wants to get ahead I highly recommend this profession.
Weaponsmithing is a very money consuming profession. Expect to invest much time and money into the profession in order to see results. In order to actually make money off this profession you will need to "proc" a craft. To understand what proc'ing is click here.