I'll explain how I set my equipment up, what stats I focus on, my rotation (even though i believe Hunters don't have a set rotation), my pet choices, glyphs, and raid buffs. I'll link my spec last as there is its looking like Survival is going to be the best for DPS and I've topped the DPS in most Dungeons I've been in so far so either I'm doing something right (which I doubt) and others are doing something wrong (which I doubt as well) or Hunters are OP'd right now..

Equipment
This is a pretty easy section as our equipment hasn't changed at all in Cataclysm, the only "change" would be that guns have a slight advantage over bow and crossbows right now but not my much (we're talking about 50-100 DPS), this might get hot fixed in patches to come but right now your weapon will be based on the stats it gives you.

Stats
Focus on Agility still, this is still the primary stat to focus on this will never change (I hope :-) ). The debate comes in through what our best secondary stat is, is it hit, crit, haste, or mastery. This changes based on your spec. Since I've become a Survival Hunter, mastery is the worst secondary spec, this might change since Blizzard has said that mastery is a broken stat right now.

Make sure you are at 8% hit before going for any other stat. As a Survival hunter reforge mastery first than haste, into hit first and once you are at hit cap than move on to crit. If you want to be a Marksmen Hunter, hit is still your first priority for secondary stats than crit. As a Marksmen Hunter your worst stat is Haste than Mastery, I say haste is the worst stat because of talents you can get that increase your haste so too much haste and you'll reach the “haste cap”. A Beast Master Hunter is the same as a Survival Hunter as far as secondary stats go.

Rotation
Since I've not played around too much with the other specs in a dungeon situation I'll explain the “rotation”, if you can call it that, that I use. I have a shot priority instead of a “rotation”.
1.For bosses ALWAYS start with hunters mark, I don't use it on trash too much as those target change too much
2.Serpent Sting, this is the Hunters bread and butter, its VERY important to use this.
3.I use a Cobra Shot to regain some focus,
4.Black Arrow
5.Explosive Shot
6.Arcane Shot
7.Than Cobra Shot until Explosive Shot or Black Arrow are ready and than back to Cobra Shot.

Always use Cobra shot to regain focus, this is much better than Steady shot, in fact I've taken Steady shot off of my bar since it has a longer cast time and does not add to the remaining duration of Serpent Sting. Cobra Shot is also preferable to use when using Aspect of the Fox, which allows you to shot it on the run, which is very helpful!!!

Pets
I used to use Wolves only, so much so that i went out and trained 5 of the 9 rare wolves just to have them. Wolves are great because of the Ferocious Howl buff (5% crit bonus). Now I still have 2 wolves on my call pet bar but I have switched to Cats.

I switched to cats for the reason of Roar of Courage. At level 85 this will give a 549 bonus to both Strength and Agility to you're whole raid or party and last for 1 minute. I'm still on the fence as far as Cats vs. Wolves, right now I'm leaning more to wolves though.

I do have a fox and monkey right now which I love playing but they don't give any buffs to the group so they're more for fun.

Glyphs
My Prime glyphs are:
Glyph of Explosive Shot
Glyph of Serpent Sting
Glyph of Kill Shot

My Major glyphs are:
Glyph of Mending
Glyph of Misdirection
Glyph of Snake Trap

My Minor glyphs are:
Glyph of Feign Death
Glyph of Mend Pet
Glyph of Revive Pet

Raid Buffs
As I've not gone raiding in Cataclysm yet its hard to say what is best to have right now. I will say this, Aspect of the Fox is your friend!!! I can shot Cobra Shot on the run now which is a HUGE help in boss fights when you need to stay mobile.

Enchants
Head - Arcanum of the Ramkahen – 60 Agility and 35 Haste (Revered with Ramkahen)
Shoulder - Greater Inscription of Shattered Crystal – 50 Agility and 25 Mastery (Therazane - Exalted)
Back - Greater Critical Strike - +65 crit
Chest - Peerless Stats - +20 to all stats
Wrist - Greater Critical Strike - +65 crit (or Draconic Embossment – Agility +130 Agility only for LW)
Hands - Haste - +50 haste
Waist - Ebonsteel Belt Buckle – extra gem slot
Legs - Dragonscale Leg Armor - +190 Attack and +55 crit
Feet - Major Agility - +35 Agility
1H Weapon - There is no enchant that is helpful for Hunters with 1 handed weapons.
2H Weapon - Mighty Agility - +130 Agility
Ranged Weapon - Gnomish X-Ray Scope - sometimes increases ranged attack power by 800 for 10 sec when dealing damage with ranged attacks