I said this in an earlier thread, Personally I think the best professions are: Skinning and Tailoring.
Both are made for the grind, which is really nice. When grinding beasts skinning allows you to gather leather from whatever it is you skin. When you grind humanoid mobs, you get either: Linen, Wool, Silk, or Mageweave.
When you tailor you can make bags, so no need to buy those 3-4g mageweave bags...you can make them yourself. Backpacks? You make yourself. Any Tailoring that requires leather (barbaric vests, that sell for a good amount to the cloth classes) you get yourself. When you are higher level and need better leather, no need to buy it at the AH, plus any leather you get, you can sell at the AH or to an NPC.
PLUS, if you already have skinning/leather all you have to do is drop the leather get tailoring. Either buy all your linen and woool to work your tailoring up fast, or go out and farm them for awhile.
IMO, skinning and tailoring are the 2 best moneymakers you can ask for.