This farm very much resembles the Dire Maul farm in that it allows you to hit multiple markets without having to do too much. You can mageweave, runecloth, greens, world drops, and herbs all from this one single spot with the addition of countless transmog items. I personally love this spot – however I feel I stumbled upon it a little to late. The benefits is that this is the LARGEST instance in the entire game – literally. You can spend up to 15 minutes pulling the entire instance. You are rewarded however with an abundance of drops of all kinds. You can quickly fill up your inventory here. If you need greens form the 47-51 area, this is your spot. As mentioned, you will also get soo many trade goods that it's hard not to fill even the biggest of bags.
The goblins of the Steamweedle cartel have set up several neutral auction houses about Azeroth. Gadgetzan, Booty Bay, and Everlook all house neutral auction houses. The neutral is useful for making money, as commodities that Alliance players can get easily can be sold at a cheap price to Horde players (or vice versa), and then sold at a higher price at a major city.
Whatever your approach, if you use some common sense and apply yourself, you can make significant quantities of money in the game. By managing your cashflow, conserving and budgeting where you can, and investing wisely in those activities that make you money, you can become financially solvent relatively early in your career, and remain comfortably well-off (while still buying good gear) at level 80. Good luck!
Making gold is all about finding the balance that works best on your server between all the above methods. When you find that balance, repeat, repeat, repeat, until you get the results you want. Never make any rash decisions without first consulting the economy. If you do not think you can make a for sure profit, then do not do it! Change only when necessary, because your clients become accustomed to certain practices that keep them buying from you even if under cutters offer a slightly lower price. If the customer is always right, then show that to them and you will be much more profitable!