If you haven't already -- you will soon be debating what piece of Valor Point gear you should purchase first. I decided I would put my insight into what I think would be worth it.
*Note* Everybody will be in different situation with current gear / current stat needs etc. Again, this is just my insight.
Tier:
I would not spend on gloves or legs at this point due to the fact that they drop in the Tol Barad boss. So since you will be running this weekly, your chance of getting it for free seems like a better idea So that just leaves the only available piece of tier you can buy is the chest. (helm and shoulder's are boss tokens)
Chest (2200 Valor Points): compared to the LW crafted chest - you will gain about 40 intellect. I would suggest making the crafted to save spending points on the chest.
* My only suggestion would to get this if it would make your tier 2pc or 4pc bonus.
Cloak (1250 Valor Points):
You basically have two choices the Crit/Haste or the Mastery/Spirit cloak. Probably another minor upgrade compared to your current 246 cloak (i.e. Periwinkle Cloak)
Relic of Norgannon (700 Valor Points):
After comparing the 359 Relic of Norgannon vs. the created Tattoo Eyeball (Inscription), I would say this is a minor upgrade -- you are looking at a 12 Intellect and 24 Haste upgrade.
Soul Casket Trinket (1650 Valor Points):
When it comes to trinkets for casters, there aren't many to choose from. The only one really out there is Theralion's Mirror off of Double Dragons. In my case, I bought the Volcano deck for the Mastery and Int Proc trinket. If you have the gold, it will be a nice trinket to last you until heroic modes.
Rings (1250 Valor Points):
Again there are two rings to choose from -- a Crit/Haste or a Spirit/Mastery. I would chose the Crit/Haste ring due to the better appealing stats.
Boots (1650 Valor Points):
Very Comparable to the Earthen Ring Exalted Boots. The minor difference is +10 crit to the ones from rep and +10 spirit from the VP boots.
Conclusion: Again this is just some insight that offer's other suggestion as to what you could use to avoid using valor points on minor upgrades.
Please feel free to add your thoughts !