head - honor bought
shoulder - honor bought
cloak - 50int
chest - 20stats or 40resi if ur cheap
wrist - 50int
hands - 65mastery
legs - int/spi
boots - lavawalker (some prefer 50haste/mastery but inner fire is a must vs melee cleaves, and u still want the 108% run speed when snares fades).
Reforging is a personal choice really. I tend to go with cloak/neck for spell pen. Reforge so you get 410 hit rating. Then 2k spirit and reforge the rest into haste.
Arena setups for priest this season are:
Though you can make anything "work", but you will find it a lot harder.