Hi there! I had a website for about a year, started roughly 4 months before I opened my Etsy shop. It does make it easy to share where to find your goods when someone has not heard of Etsy. Then you have to explain all of it just to get them to find your shop : ) After a year I cancelled the subscription to the domain name, because it was not bringing in much traffic, and it was one more thing to keep updated (I also have a blog).
I used Globat, which I found to be fairly priced and very easy to use for those of us who have no idea how to create a webpage ; )
It's hard to say with the jewelry market, I don't know too much about that. I know it is probably over saturated like most and hard to stand out. It depends on what you are wanting to get from it. What is it that you think a website can do that Etsy cannot? Maybe you can try a blog first and see how it goes? Blogspot.com/Blogger.com is great.
Good luck and much success to you!
p.s. LOVE this piece!
http://www.etsy.com/listing/85096755/three-stone-ring-viking-knit-wire