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Yes, I gave up on the "The One That Got Away" yesterday. I just waited a day and did the shrimp one. Right now I've raised my fishing skill to 365. I checked E's Extreme Fishing page and decided to fish in Dragonblight per his guide. That seems to be ok. I'm getting some Pygmy Suckerfish once in a while which should sell pretty good.
Look on the map - in the lower left corner you'll see a small lake - if you've done the walrus man quests then that's the lake where all the ghosts are. There's seven or eight pools of Dragonfin fish in there - if you've managed to clear 400 skill with your cooking then use your cooking awards to buy the Blackened Dragonfin recipe (http://wow.allakhazam.com/db/item.html?witem=42999) and cook the heck out of those suckers - they're going for around 150g a stack (although a stack takes two stacks of raw dragonfins and one stack of spices) on most servers.
As for the suckerfish - they used to be extremely high demand thanks to their rarity and the need to use them to level alchemy - not sure now since the drop rate has been changed - if you work the dragonfin pools then you'll get a suckerfish every third catch on average. Definately keep them for the AH, or, make friends with your guild's upcoming alchemists by donating them.
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How far should I keep raising my skill? I'm wondering what the minimum baseline skill is to be able to fish everything in the game?
Answer is 'depends' - if you want to get the coin reward/achievement in Dalaran fishing from the fountain, then you'll definately want a maxed fishing skill - same thing if you want to catch the non-combat pet Giant Sewer Rat (http://www.warcraftpets.com/wow.pets/mammals/rodents/giant_sewer_rat.asp). Additionally, some of the deep sea fishing off the southern coast where the iceburges are needs a rather high (400+ but don't remember exactly) skill to catch those fish and those fish are components in some of the high end cooking recipes.
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Right now I'm doing ok but probably need to keep going in order to fish the pools in Dalaran. I do have a stack of the plus 100 lures, which are nice too.
If you're not in a hurry then just make fishing part of your daily routine and it'll max itself out on its own - when you're doing your dailies just pop on down to Dragonblight and just work the lake I mentioned for ten minutes or until you've got yourself a stack of Dragonfin or suckerfish or whatever short goal you want to set for yourself - that'll get you 1-3 points per run and you wont burn yourself out on fishing - win/win!
Edit - since you're in the xpac now, be sure to work your Kalu'ak rep to score yourself a http://wow.allakhazam.com/db/item.html?witem=44050;source=live at exalted.
Edited, Feb 8th 2009 7:32pm by rusttle