So after playing around with my shiny new X-53 Touring Rocket (and killing countless fools in dalaran who were begging to 'ride my rocket'. Whores) I discovered something cool.
You can go underwater with it.
Of course, watch your breath cause you can still drown
Speed is reduced down a fair bit, but its still pretty cool. Especially how you can jump out and fly again.
I figured this was an exploit because you can't push right down into the water like most other mounts. You have to ease yourself in, or mount while wading. You cannot mount a flying mount while swimming of course
[ame="http://www.youtube.com/watch?v=oLfLLrfRyhI"]YouTube- x53underwater.avi[/ame]