Here’s a report from a guy with his strategy for making gold:

I must say… loving the fact that that epic gem market is still flourishing on my server.

I don’t do any dailies/farming/AH re listing at all anymore…. I just take my badges from weekly raiding and trade them in for epic gems and sell those.

Its still 300g for a Crimson Spinel… so with a kara run + regular MH/BT I can get 2 or 3 epic gems a week…. or 600-900g a week by doing absolutely nothing.

Thats enough for me to pay for raid consumables AND save up for my epic flyer (yes, no epic flyer yet).

So far I’ve gone from ~200g to 2400g since the epic gem vendor has been released.

So if you haven’t tried it yet, and you’re raiding regularly where the badges are, you can convert your badges to gems and sell the gems at the Auction House.