As others have said, there's really not much incentive to spend Valor now rather than hoarding it for 5.2. If you're still planning on upgrading items though, these are the general choices:
1. Heroic Elite Protector gear (524 fully upgraded)
2. Normal Sha-touched or stronger weapons.
3. DMC and other good trinkets
4. That rare item that is nearly as good as the 522 Valor gear, such as a double upgraded spirit/mastery neck from Heroic Spirit Kings for Resto Druids.
---------- Post added 2013-02-16 at 03:16 PM ----------
You mean Neutral?