Conquest creates comprehensive Molten Core Guide

[Zoid]

But given what has happened, I cannot trust that Blizzard made the correct decision.  At the same time, of course I cannot trust a group of powergamers to have not exploited.
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Wow, this is quite a statement, actually. You just really showed how polarizing this issue is. You have people that will do nothing short to use any bug, exploit or advantage to gain items/power/fame and on the other side you have the people making the game attempting to make it fair and balanced for everyone. It's essentially a war of ethics and so far Blizzard is making sure they have the advantage.

Blizzard has been extremely conservative in every aspect of economy design. Look at the item system--the epics dropped by the mobs in the highest dungeon (Molten Core) are only a few percentage points better than set items dropped in regular level 60 instances. There are no real items that are completely better than everything else.

Blizzard even acknowledged this and have already said they are going to beef up stuff like set items. Right now the class sets aren't really that great (have you looked at the Rogue shadowcraft boots? That's just plain broken).

I think they've taken a conservative approach to everying related to economy in this game. From item abilities, costs, incoming from mobs, etc. It's easier to make things better and more powerful than to nerf them later. Of course, they missed a few. The feathers dropped by the Hippogriffs in Azshara were actually items used in a quest to teleport up to see the Archmage there--they just messed up and made their resale value too high.