I'm a level 58 night elf druid with 260 leatherworking, and I already did all the wild leather quests and so have tribal leatherworking trained as well. I could easily get it to 300 LW with all the saved up skins I have... or I could sell them.
I'm not dropping skinning, by the way. Selling skins at the AH is reasonable money, even if there are far too many skinners.
My question is this: Why shouldn't I drop it and pick up something useful like mining (money) or engineering (money drain, but useful items that ONLY engineers can use)?
There is NOTHING in leatherworking that I have found that you need to have leatherworking trained in order to wear. Nor do I think there will be soon. I am on a well populated server and could easily just buy leatherworked items with the money I could have made from say... mining? If I picked up engineering, I could use nifty engineering items that are restricted to people that have a certain level of engineering. Or if I picked mining, I'd have extra money. If I stay with leatherworking... what do I get? Nothing that I couldn't get without leatherworking.
So, convince me to keep it (or not). What's the point in leatherworking at high levels if you can just buy the leatherworked items anyways? It's not like I'm going to be making great fortunes off of LW, as nothing that it makes sells for much (at the AH or otherwise) compared to how hard it is to get. I don't expect any crafting trade skills to make great money, but I would like them to at least give abilities that you can't have without those tradeskills.