Mommar Here.
Seems that our Uncles at Blizzard are not big on the stockpiling of Valor or Justice Points. With the new announcement on how they are converting both sets of points, players that were banking on free gold were highly disappointed.
The basic time frame now is
The next patch is released on August 28th. (5.0.4)
Valor Points would be converted to Justice points with the intro patch to Mists of Pandara, Justice Points would stay the same. Justice Points have no cap on them. Justice points will be the only points able to be earned. Valor Points no longer will be available til the opening of Mists of Pandaria. Items purchased by Valor Points will be available via Justice points.
Conquest points get converted to Honor Points.
Arenas are closed
All items available for purchase via Conquest points will be purchased by Honor Points.
Mists of Pandaria opens on September 25th
Valor points earned via quests, daily random dungeons and Raids. 1000 max per week, 3000 cap
Conquest points earned through daily PVP random and Arenas 4000 cap on conquest points
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So what does that mean to the gold goblins? Well life is going to be interesting for a bit. With no cash conversion of points this time, stockpiling points really give no added benefit. The gear that will be purchasable with Justice points will be of lower level gear than obtained via Heroic Dungeons. Valor points are used to upgrade gear or to purchase high level gear. Both types of gear will require reputation with one of the factions in Mists. Opportunities to resell JP gear (like the boots or wrists bracers from cataclysm) will be few at the start.
All of this news does not mean that JP will be worthless. The lower level gear purchased from Justice points will be useful to get players ready for Heroic Dungeons that much quicker. The required gear level for Heroics could be tricky to meet if you didn't throw in the occasional PVP gear pieces or crafted gear. Extra Justice Points could easily add one or two pieces to your collection to put you over the top.
At any point Blizzard might change their mind and just reset everything. Or go back to the Gold conversion method they have done in previous expansions. Just keep this in mind before you spend hours focusing on having 20,000 Justice Points just to get them turned into 100g. Moderation is a good thing.
Good Luck and Good Hunting
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