Farming old world mats is only a good idea when initially leveling mining. Even then be sure to buy the ore and smelt it till it's gray at every opportunity. Selling the bars makes back or exceeds the money you spend and cuts down on the farming a ton.
Focus on dailies and quests on your main until you get JC to 400. I spent over 7k gold yesterday between epic flying, cold weather flying, getting engineering to 440, and making my goggles (with appropriate block value meta of course.) That money came from DEing (a lot of which were things I'd made with JC) and prospecting and cutting. Get the 24 stam sky sapphire cut first. I can't sell them fast enough and on my server they go for about 20-25g profit even buying em off the AH.
Also, Stoneguard Bands. Good rings, cheap to make, they sell pretty well, and even if they don't they DE well.
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