I'm still playing my lower level priest exclusively. He now got up to level 42, mainly by doing quests in Stranglethorn. I'll be glad when I see the last of that zone. But I also did some dungeon excursions, that's what I made the priest for. After several tries I not only finished the Scarlet Monastery main quest, which unfortunately gives only very bad loot for priests, but I also managed to win Whitemane's Chapeau, something I really wanted to have. Not because of the stats, although they are good, but because of the looks. Up to now I was wearing cowl or a sorcerer's hat. Now I'm really looking like a priest. :)
The one thing that playing on a new server didn't do was turning back time. Not only not for me, but neither for anyone else. Most of the experienced players did a mad rush to level 60 and are now starting to raid, much faster than on the first servers. Where that is really noticeable is in the demand for things that can't be rushed, like arcanite transmutes or mooncloth, which have a long cooldown.
Thanks to the farmers the prices for runecloth on the auction house are low, you can get a stack for as little as 1 gold 20 silver. That means I can make runecloth bags for less than 2 gold. But they sell for 4 to 5 gold, an excellent profit margin. I now hit 300 tailoring, and learned to make mooncloth and mooncloth bags. I'll make some for myself first before selling them, but I guess the profit on those is even bigger.