check TBC item sets... especially for all people who will NOT go into end-game 25-man raid instances, check the high level tailoring sets for casters...
they are very much on par with T4/5 sets, with the exception that they specialise in certain schools of magic and lack resistances (but no raids = no need for them).
high STa, so you won't get one-shotted and can have some pvp fun even.
they are VERY good. blizz improved high level tailoring a lot.
plus now you can do "embroideries" on certain item slots, which add stats, in the same way as enchants do, but they stack with enchants and gems, making it a VERY powerful profession for casters...
you never made money from tailoring.
bags? 1 mooncloth / 4 days? 20g per bag, 4g / day?
making money? kill a few mobs you have the 4g...
Come and join on Starcraft 2 as well =]