Unfortunately, though this would be balanced in some cases, this isn't the case with other items. Take Wool for example. You can get 3 blocks of it from 1 Sheep as long as you have Shears. Now, if you placed this wool in an Uncrafting Table, you'd get 12 String. That's the equivalent of killing approximately 8 Spiders. So essentially, instead of heading out into the night to farm for string, you could instead hunker down in your house with a sheep, and get wool much more efficiently. This may be a good thing, but it takes the point out of killing Spiders, except for their eyes which aren't even useful until late into the game. And what about Granite? It's made using Cobblestone and Nether Quartz. If a Player were to place Granite in an Uncrafting Table, they'd be able to get items not normally found early in the game.
It is possible to uncraft armor and tools without breaking the game - a diamond sword uses two diamonds? You only get two back if it is in perfect condition, and none if more than half the durability is missing (units returned = (durability left) / (maximum durability) * (units to make item), rounded down). Only brand-new shovels would give back a diamond, iron ingot, etc, with the sticks receiving a similar treatment as ingots in swords (swords would only return a stick if they were brand new. They could also just be ignored, either always returning none or the full number). Chainmail armor could give you back half the number of resources in iron ingots (i.e. new chestplate = 4 ingots vs 8 for an iron chestplate), and gold could return nuggets although I don't think it needs to be that complicated (just giving ingots).
However, I think this idea in general is better off left as a mod (there are various mods that add "uncrafting" tables and the like); Mojang has reasons for not making certain blocks or items uncraftable, others can be "uncrafted" by mining them (e.g. glowstone).
I like the original idea of this but it would be very overpowered. I could set up a hostile mob farm and keep getting gold, leather, and iron armor and then combine their durability to get a undamaged one, After that you could just un-craft It and get unlimited stuff. It would be a slow process but you would still get a lot of free materials.
The chances for mob wearing armor is VERY LOW! You can do that but its VERY SLOW. About 8 ingots/day. and
I've to think a bit.
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I'm a programmer. I use C/C++, BASIC, Assembly, and Python. If i sound too technicial, that's because it's the way i think.