Aside from adding sockets and magical effects from enchanting, we don't know if Artisans will provide armor upgrades or if there is a set upgrade path you can enroll in throughout the game. Btw, the link you provided doesn't prove that either for weapons, it's merely a slide from the Crafting Sanctuary Panel at Blizzcon '10 showing correlation between art and weapon power.
As of right now, no. That image is just showing a general progression of certain items as you level and get hgher level gear. It's not one specifc item being ugraded. Although the idea would be cool esecially if yu got a good item.
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kinda like this
http://www.diablowiki.net/File:Axes-1h-progression.jpg
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