DE’ing Reinforced Cobalt Shoulders, Reinforced Cobalt Chestpiece, Reinforced Cobalt Helm, and Reinforced Cobalt Legplates is something I have been doing since the patch came out. You can craft these with only 4 cobalt ore which costs about $2-3g each (prices according to www.wowecon.com averages) and you de it into Infinite Dust, Greater Cosmic Essences, and Dream Shards.
The one downfall to this, is you have to be lucky. This recipe is a random world drop recipe so you cannot just go to a trainer and get it.
What if you don’t have an enchanter or a blacksmith with this random world drop recipe?
Then ask your friend or in trade for some help. Offer a tip to someone who can and is willing to craft a lot of these for you. Or give an enchanting friend part of the DE mats for DE’ing them all for you.
This has HUGE money making potential but it is going to require double the mats in 3.0.8 So you need to act soon. I personally and stocking up on the dust etc to sell later after you can no longer use this technique. I have 2 other people who are doing this on my server which has kept the DE mat prices lower than average. Once this supply is gone, the prices should go back up a little.
On to the profit numbers of this gold making tip
On my server I purchase cobalt for on average 2.2 g a piece. Infinite Dust is at 4g a each, Cosmic Essence 25g each, and dream shards 15g. This gives a crafting price of 8.8g each and a DE value of 18.75. I more than double my money.
How do you determine if its worth your time on your server though?
Simple just plug in your values of the items on your server below in the format 2g50s = 2.5 for one item of the items in the left column, then click compute
For More information on gold making with these two professions check out Blacksmithing Gold Guide and Enchanting Gold Guide