Just rolled a new character earlier. I've been playing on Adept since 11/11/11 and I figured I'd like to experience the thrill of playing on Master or Legendary.

(Kind of like an Ultra Violence run in Doom but anyway)

My question is... is it possible to survive (in other words, have fun and NOT be frustrated) through a "normal" RP-friendly play style?

Or with Master/Legendary, it is pretty much established that I must grind and exploit (particularly crafting skills) and use OP enchanted gear just to have a fair shot?

I had a friend who did just fine on master with only smithing, he didn't power grind or anything or pair it with enchanting and he played just fine. I usually play on expert and don't really grind anything and do just fine as well.

Depends on your RP playstyle really.

I think it's possible but fights definitely take more preparation and some are best avoided. Don't expect to wade in toe-to-toe with bandit marauders or forsworn ravagers without having a bit of a pucker factor during the fights. If you're the archer type you can definitely RP that as normal I think. I run a sword and board (well axe) on master without any overpowered crafting skills. It's tough at moments but I still have fun with it.

Also, archers are a pita.

I do it to myself really, I don't typically start doing 'anything' until I'm lvl 46 so I'm facing tougher enemies, just playing RP wise with no worry of level I think you'll be okay, just be a bit more cautious.