My main is a JC/Enchanter and for some reason, probably just because it was easier than leveling JC, I've taken Enchanting to 525 first. I knew that there wasn't a big profit to be made from that, but I usually try to max out everything I can. I didn't do the same with JC, which I've taken just to 475 to do the dailies and that it's now at 517 just from the dailies and cutting blue gems.
Now, there are two kinds of crafting professions: those in which everyone leveling knows the same (you usually will lose money while leveling those) and those in which people tend to level with different recipes (and you sometimes can also gain golds by leveling them up). It's a well known fact that Enchanting is of the first king, while JC is of the second one. What isn't so obvious is that today the only way to gain something from enchanting is to disenchant... This is because the high level (525) recipes of Enchanting all require the new Abyss Crystals, . The only enchant you can actually do for money is [Enchant 2H Weapon - Mighty Agility], which is a very good enchant and can't be used for leveling, since it grayes out before you can make the Enchanting Elementium Rod (Enchanting 515). So my suggestions, if you really want to start enchanring, are:
- For now, bring Enchanting just to 515
- Don't sell the scrolls you make until they're prices rise again
Tip for everyone: Buy the scrolls enchanters are dumping on the AH. In my realm, some are going for less than 10 golds... When this huge wave of levelers will be gone, prices are due to raise even if mats' prices go down.
There are two ways to make a profit out of JC: Prospecting and Cutting gems.
The first one is very server-dependent: you need at least one between [Obsidium Ore], [Elementium Ore] and [Pyrite Ore] to be cheap compared to what you can obtain prospecting them. The best way I found to quickly evalutate this is comparing the price of Obsidium and Elementium to the price of green and blue gems and the price of Pyrite to that of Volatile Earth. Don't put the blue gems in the equation when evaluating the Obsidium, treat them just as a bonus.
The other way, gem cutting, will mainly focus on blue gems, unless you have a good meta gems recipe (i.e. one for which there isn't to much competition) and a good source of raw metagems.
On my server I'm making huge profits both from prospecting and from selling blue cutted gems.
Enchanting + Jewelcrafting
As it was in WotLK, crafting some jewels to disenchant them could be very profitable. We're only at the beginning of this, but prices for [Jasper] and [Alicite] are going down (except for the days in which Jasper is needed for the JC daily), while, at least on my server, the price for enchanring mats is still quite high. This can really be useful if you're making a lot of prospecting, since you won't need to try to sell those raw gems.
At the end of the day, the only common gem that gives me worries is the [Carnelian]: prices are going down quickly, but needing three Carnelians to make the Caenelian Spikes it isn't even worth disenchanting... Depending on your server economy you may want to transmute them in [Inferno Ruby].