If you're going to bother with archaeology get on with it. There are bonus items available that you use towards manufcturing items with the scraps you unearth, each gives a bonus of twelve against a typical cost of 35 scraps for a common item, up to 100 for a rare. Thing is, you get between 9 and 18 scraps per digsite, and I guess 5 minutes max is all you need at each site. The bunus items were selling for 250G each in the beginning, now they are between 50-80G, but it's very easy money. The outland Vrykyl bonus is selling for about 500G, the Uldum one even more but it's rare to get an Uldum spawn as it's part of the random Kalimdor areas.
Levelling is simple: Set your inn to Ironforge (next to the AH), and you've got northern EK digsites covered. Use the portal to Badlands for southern areas, with the 15 min cooldown you can HS back to IF every few digs if needed. If you don't want to gain XP lock it, you get about 8K per dig, three per site, so you can be gaining XP far faster than questing in the new 80-plus areas. Don't go for higher areas as you level, the gains are the same and Northrend travelling is slow and expensive: stay with EK up to 525.
I guess I made over 10K gold from selling the bonus items, plus a fair amount from odd kills and skins on the way. Once you're at 525, use Arch if it's spawned near to where you're going and sell the bonuses for profit. Some of the rare items are fun, if you want a skeletal raptor mount or a set of sword-dancing dwarves.

wow-professions.com - Archaeology
almostgaming.com - Archaeology
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