Arcane gems are a new system of crafting which will completely replace the pathfinder system to create magical items. Classes and spells which imbue power through weapon/armor may still do so, treat arcane gemstones as if they were the standard pathfinder enhancements/enchantments when considering these.
*Note* Potions and Scrolls are unchanged. Scrolls are merely writings which convey the ability to cast a spell. Potions are a liquid which has always easily accepted magical energy in Krona, unlike metal or leather which require arcane gemstones and special sockets.
Example of the Benefits to Arcane Gemstones
Bobby, a great and powerful warrior, has spent his entire life training to use a bastard sword and shield! But this is a real pain in the butt because almost no one else uses one and he can't find any better swords from his dead foes. What will Bobby ever do? Arcane gemstones...that's what Bobby will do. By hiring a blacksmith bobby now has a Bastard Sword with a major socket in the pommel and 3 more lesser in the hilt! Bobby spends the next day slaying orcs and goblins...then a frost giant! He finds 2 pretty gemstones in the giant's pockets which he identifies as a vorpal gem and a +2 enhancement gem, by spending a few minutes fiddling with his sword and activating the gems he now has a +2 Vorpal Bastard Sword!
Later on in his adventures Bobby decides Vorpal swords suuuuuuuck so bad in pathfinder! He hasn't beheaded ANY of these Balor the almighty DM is throwing at us...he really needs a holy sword. But lo and behold he finds a cache of gems in a red dragon's lair! He discovers a +5 enhancement gem, a holy gem, a keen gem and a Chill gem. After a little more fiddling and activating he finds that what once was a terrible +2 Vorpal Bastard Sword is now a +5 Holy Keen Chill Bastard Sword! He then takes his new sword to the nearest Balor and slays it with no issue at all! And when he turns to fight any non-evil enemies he may spend a little more time switching out that Holy gem back to a Vorpal gem!
Difference Between lesser and greater gems
The difference is very simple; a greater gem possesses an extremely powerful ability (Holy, Unholy, Speed, etc) due to it's heavier weight and therefore it's increased magical capacity, a lesser gem may only possess relatively simple abilities (Enhancement Bonuses, Flaming, Keen, Etc.) due to it's lighter weight and limited capacity.
Arcane Gems in the Krona Economy
Arcane gems are commonly found in the city markets of krona; an adventurer may find basic gemstones for sale at reasonable prices in most cities, rarer gemstones are easily found at reputable dealers but can be extremely expensive. Keep in mind that the mystery of arcane gemstones can elude many shop owners, some stumble upon rare and valuable gemstones without even knowing what they really have.
Installation and Removal of Arcane Gems
Arcane sockets are designed to make it an easy process to install, remove or replace gems. One must simply press two buttons simultaneously to release the arms and remove/insert a gem; once the arms are locked back into place the item starts to resonate the gem's energy but takes 1 hour to be available to the user.
This 1 hour activation time can be reduced if the gem has a superior cut quality. A good cut reduces the time to 30 minutes, a pristine cut reduces it to 10 minutes.
Removing, inserting or replacing a gem requires that the user have two available hands with opposable thumbs, the knowledge to manipulate the device (Only requires a short tutorial from someone who can craft the sockets) and the location of the gem is easily available. Removing or installing takes one minute per action, if either action is attempted during combat the user must make a dexterity check each round or drop the gem (it is possible to lose or destroy the gem depending on the current terrain).
Finding Veins of Arcane Gemstone
A detect magic spell, or the natural ability of a spell-thief, reveals that a gemstone vein is imbued with arcane energies. A knowledge (Arcana)(Int) is required to identify the type of vein and appropriate tools are required to retrieve the raw gems. You do not need to identify the type before harvesting the raw gems. Retrieving arcane gems is difficult, a player without profession (miner) will usually only retrieve one or two good samples of gem per vein.