Hello, as you can see I've been here for quite a while, but have never really been active (usually because I don't have something to say that hasn't already been said, as well as the fact I forget about the site :X) and I aim to change that, so I'm writing up this guide on how I made enough gold for 3 epic flying mounts, with gold spilling over as well!
I know people realize Jewelcrafting is a money maker, but I don't think people actually milk it to the best of their abilities. There are a few things you need in order to make this work. Either yourself, or a friend, needs to have an enchanter, a tailor, and a jewelcrafter.
First off, you're going to have to invest money in to this. I leveled mining with JCing so that I could reduce this investment. Being a restoration druid, farming was simply irritable ... I had to respec to feral in order to farm, and lets be honest here ... who really wants to spend their time farming? It took me about 13 hours straight of mining and JCing to get up to 300 Jewelcrafting.
If you're a miner, you can mine ore and prospect it, otherwise you're going to need some money on hand (preferably a few hundred gold) to invest. Look for adamantite ore on the auction house, ask friends, talk to chinese gold farmers ... whatever you have to. I try and buy it for around 25 gold a stack, sometimes more or less depending. Prospect it, as usual, but save EVERYTHING you get. You can use *almost* all of it. Initially you can just resell the blue gems uncut, or have a buddy cut them for you then sell. Once you get enough cash to invest in designs, go for it: they will make you lots of money. Additionally, once you have the designs you can simply buy out blue gems, cut them, and repost. Some of these will literally make 10g per cut, and it sure adds up! All of this is known, but here are a few tips and tricks that I've picked up and haven't seen. These have helped me make loads of money (see 20,000g in a month).
Your green gems are all going to be used except for shadow draenite and flame spessarite ... go ahead and vendor those. For the rest of the gems you're going to need to buy fel iron ore or bars, depending on the price. Either way, you need to get bars, be it by smelting the ore or flat out buying them. Next, you can make the following rings: Fel Iron Blood Ring, Golden Draenite Ring, and Azure Moonstone Ring. These will later be disenchanted and will yield dust, lesser planars or small prismatic shards. Save the dust, but you can sell the rest!
Your Adamantite Powder is going to be used to create this: Braided Eternium Chain. This MUST be bought off the AH but it is definitely worth the price. You can get eternium bars off the AH for relatively cheap, same with the Primal Earths. If you have people who COD you ore, they probably have the Primal Earths and the eternium that they could sell you as well. These disenchant into a large prismatic every time. I have disenchanted probably 600 or so of these and never got a void crystal, which at least on my server is a good thing.
I told you to save your arcane dust earlier, and here's why. You'll need to buy out netherweave cloth in bulk for this, and once again gold farmers are your friend here, since you can usually get them COD'd to you in bulk for cheap every day. You will be turning your dust and the netherweave into: Arcanoweave Bracers. The pattern drops out of arcatraz, so you'll have to run it a few times probably before you can make them. Most of the time they disenchant into large prismatics, yielding a greater profit than the netherweave + arcane dust would sell for, once again this might not apply to your server.
That about wraps it up. I'll probably update this with information or fix any errors in it, but for now that's it. I hope others can make use of this as I did.