So I have no problem with the chisel or how it works. However, at low levels, things like stairs and slab may be somewhat important. I needed to finish a staircase to start a new level of my house. After this update, I had to get a workbench, a copper chisel, etc.
I think it would be best if wood and stone slabs/steps could still be created in the crafting table. Any other type of block would need the chisel.
To create steps and slabs you only need stone chisel.
Except I saw no recipe for a stone chisel while playing…
Stone Chisels are only made in a Crafting Table, I don’t think you need Common Technology Recipes for it, but that could be the case as well
You don’t need any skills for the stone chisel, just a crafting table.
My level 5 alt is able to make stone chisels without any crafting skills 
For some reason it never showed for me…I will check on another alt.
It’s in alphabetical order including second and third word. It’s called Stone Square Chisel so it’s SSC unlike all other tools being Stone Heavy so starting with SH. That means it can be separated from other stone tools with other items between.
I missed iron chisel myself because of that as it’s called Iron Bevel Chisel and it wasn’t together with the rest of the iron tools. So maybe that’s the case with you too. Worth checking.