A better crafting system

Here's how the crafting system in my XtreemNodes-based game is going to† work:

Instead of having a "crafting grid" in which you arrange items to build tools and other items like most other voxel games do, my game will have a more complex system.
The player would be able to place items on the ground and then press a pre-defined key to open a crafting menu.
The menu would show a list of all the items that can be crafted using the items.
Higher-tier items, such as wires, refined tools, engine parts, and everything else that cannot be easily made without addtitional tools in real life will require the player to have tools, and in some cases specialized machinery in order to craft them.
It will also be possible to build industrial machines that can automate the process.
In order to build some of the more advanced items, such as high-density circuit boards or ICs, using a machine will be the only way to make them.

† This is just an overview and it is not final. I do not guarantee that I will actually implement any of these.