I just discovered a really great gold making opportunity for low level players--and its so easy, you'll /smack head and say "doh!"....
Thanks to Glyphmas, raw materials for Inscription are selling very well. Its hard to find herbs at reasonable prices anywhere (on my server at least).
Yesterday I started a new Horde toon and have leveled to 15 so far. I wanted to get two gathering professions so I chose skinning and herbalism because the trainers were near where I was at the time. I had some extra greys in my bags, so after training Herbalism I clicked on the vendor--and found he had 2 Mageroyal, 2 Earthroot and 1 Peacebloom for sale. They were anywhere from 8c to 13c each.
I bought them and hustled over to the AH where they were selling for much more. The Peacebloom went for 50s, the Earthroot sold for 1g 20s each and the Mageroyal was a whopping 2g 15s each. That's over 7g profit in a matter of seconds. I logged that character and plan to go back tomorrow morning to see if they have respawned at the vendor.
So add vendor purchases of herbs to your list of new character gold making opportunities.