While not as powerful as it was before 7.3, this transmog spot is a good area to amass a large number of BOE greens that generally fly around the 35 – 42 area. It's popularity stemming from the amount of items that drop (and the potential value of those items) rather than the quality of each drop itself. Generally drops from these farms can take a while to sell even when using my TSM posting style. However if your low on transmog stock this can be an awesome area to hit every now and then.
There are two parts of the quest chain for each continent. The first part involves defeating numerous Master Pet Tamers, and the second requires you to triumph over the Grand Master Tamer. After you've bested the Grand Master Tamer, dailies from each Tamer will unlock for that continent. All the dailies continue to reward experience for your companions, however only the Grand Master daily quest will reward the Sack of Pet Supplies.
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.