So I decided to farm some Rugged Leather yesterday. I used my Death Knight and farmed level 51-53ish Frostsabers in northern Winterspring. I stayed away from the lower level bears and chimeras nearby.
Turns out the AH is completely lacking Rugged Leather! I'm selling them for 100g a stack currently, and I might be able to get even more. The demand is high by leveling Leather Workers, and Rugged Leather isn't farmed much by leveling characters. Meaning even with a level 70, or maybe even level 60, you can get 1000g/hour from farming up there, since the demand is higher than the supply. Which is pretty good for a low level outdoor farming spot. You don't need to have your level 85 main character in full epics for it.
There are of course other ways to make gold that are far superior, but for the casual player that doesn't want to spend time playing the AH or being too advanced with his/hers professions, this is a good and easy way to make a little extra gold.
And you don't even need to have your skinning maxed out for it. What is needed to skin level 54ish anyway? 270? 280?