A lot of players had the expected reaction: They bitched and bitched. I posted a thread on our forums asking for people's feedback, but I specifically requested no bitching, no negative talk. The idea was for the players to post for a month how they were affected by the cooldown, what strategies they had to change, etc.
Obviouly, many of them couldn't abide by the terms of that thread (and the forum rules as well) so I suspended almost 10 players from our forum, for a period between 2 and 1000 days.
A few players like this change, and some I guess have no opinion about it, or they didn't bother to post it. We'll know more about it's overal impact on the game ina few days, when we'll check some of our internal logs to see how many items were made lately, what kind of items were made more/less, etc.