You forgot to mention Energy of Justice farming, when talking about getting stats.
The niche market thing is very important. I know people who pay very well for magical instrument materials, they come from low level instances such as Forsaken Abbey which lvl 80 players can run naked.
Figure out how to use your class yourself is something I'd like to add. Once you have some equipment, and are gunning towards running those instances you've been looking forward to do, you actually need to be able to do something once you're there. I encourage new players to read the forums but don't simply say "person XYZ said to use skill a, skill b, skill a, skill c etc. Go learn/test these things out yourself, even the ones other people tell you. Addons such as scrutinizer -
http://www.curse.com/addons/rom/scrutinizer to download -- will tell you your damage output. Find Ogest in Xaviera and beat him up over aand over and over again comparing information from scrutinizer to determine which skill rotation is best, and use different potions/equipment (to change the duration of the fight) to see what works in different situations.
Also, READ ALL YOUR SKILLS and know how they work. I can't emphasize this enough, players not knowing all their skills because they just use flame or charged chop all day while questing/farming and neglect the other ones. Some skills like banish might seem stupid while questing but are amazing when used right in an instance.