First, let’s make one thing clear: The patch, that we are downloading right now, patch 4.0.1 is not Cataclysm.
Nevertheless, there are big changes in this patch: No more ammos, talents tree totally changed, etc. This is why the price of ammos in AH has dropped drastically.
Don’t be tempted to buy lot of them at a cheap price because you expect to sell them at higher price later on. This just won’t happen and you will have no other alternative than vendor them.
One of the big changes that appear on the Public Test Realm (PTR), is that the system of emblems has changed. Emblems of Triumph don’t exist anymore.
Instead, we’ll have the “Justice Points”…
And the conversion rate of Justice Points (JP) is quite terrible.
Almost in the same way that the mark of honor have converted to a real poor rate (1 mark = 120 honor) the Emblem of Triumph (EoT) look like they convert to a rate of 1:2.74.
So 40 EoT = 110 JP.
Heirlooms chest and shoulders will now cost 435 JP.
That means that you know will have to convert over 120 EoT per piece of heirloom (roughly 2 to 3 times the original price).
From what I read around, it seems like the PvP-heirlooms will convert at around the same bad scale: 1:1.6 honor, so they will be much more expensive as well.
If you have heirloom to buy, buy them now, now, now.
We are downloading patch 4.0.1 right now, so that means, it will go live in a few weeks. Unless Blizzard changes the conversio-rate at last moment (which will surprise me), heirloom will become much more expensive.