On my server, the original idea (using silk drops to make Heavy Silk bandages that sell for 80s to vendors per stack) is not a good one. Well, it is decent, but not the best. I just got onto enemies that drop silk constantly, and a stack of it sells for 50-60s on the AH. Now, to make Heavy Silk Bandages, you need to use 2 silk per bandage (I assume, at least, that this follows the linen--->heavy linen line, where two linen make a heavy, etc). If you sold 40 silk on the AH, you would make 100-120s, increasing your profit by 20-40 silver. Granted this isn't immediate, and you have to throw down extra silver for the deposit (which you get back once you sell it... and it will sell unless you put your buyout too high). But you still make a lot more on the AH.
I tried the ooze idea as well. Lady Deadsidedemon, you must mean selling on the AH, because I got about 10 flasks, and they didn't sell well to vendors at all. Only got one green drop, too :-(. In about an hour, I made maybe 50 silver in vendor trash... a lot less than I would have made killing level 10 kobolds to farm linen cloth (20-25 silver a stack, I can get a stack really fast).
I don't find myself in need of too much money right now at level 30 (I have around 15 gold on me), but I make a lot just by picking on green humanoids 5-6 levels below me. I can take up to four at a time (not recommended, though... downtime and all that), still get experience, and they drop money, along with cloth of some kind (cotton sells nicely), and I get experience. Plus, the little camps always have chests, for extra prizes ^_^. This is the best I have found so far. Also, I pick any herb I see, and I'm amazed how much people will pay for them.
Two questions from me: what do flasks of oil do, besides that quest in Westfall (which, by the way, you can get oil a lot faster from the Harvesters there than the oozes, because they are 10 levels lower, and they drop money as well); and, what use is Ironbeard's Tomb besides the quest for the bag? It goes down three levels, and looks like there should be a door...