Heirlooms. At the bare minimum you make sure all the armor pieces upgraded to 110, since this is the lion's share of your experience increase. Neck and Ring upgrades are secondary, but still important due to being able to enchant them. Trinkets can't be enchanted, but you'll want them at max as well, if only to save time by not having to worry about replacing them as you level.

Picking up herbalism and mining is the best professions to have while leveling. Not only will you earn gold as you level, but you will also get extra XP. At level 20 you will get over 500 XP for picking up a ore or a herb while killing a mob only gives a little over 100 XP. Don’t go out of your way to pick herbs if you are trying to level quickly, but pick the ones that are on your way. Leveling from 110 to 120 can be done pretty quickly just by doing this. There are a few items that will help you if you decide to use professions while leveling:

If i start on a new realms, I am farming a lot of transmog from classic and Burning Crusade Dungeons and Raids. In the beginning, i start to post them if they have at least a DBRegionMarketAvg (Average value of an item on all EU realms of the last 14 days) of 500 Gold. All the other items get vendored. The time you hit a stock of 1000 Items, my value treshold raises to around 2.500 Gold. All the items below that value get vendored aswell. Newly farmed items that are above these treshold will be listed. Why? If I start over somewhere, I want to get a certain amount of gold quickly. Cheap items are great for that. Later on, to save time, Quality is better than quantity. As mentioned above, re-posting the items on the auction house takes quite a bit of time. At this point, I can recommend you the TradeSkillMaster AddOn, it makes your auction house work really a hell of a lot easier.