As what might come to an absolute shock to regular readers, I have been playing with glyphs. (Ok absolute shock might not be the right term). Some of you may have read that I converted a lot of Ink of the Sea into other inks before patch 4.0. I am running out of some of those inks, and in the main, blackfallow inks are still to expensive to trade down.
So, I have been buying older herbs and milling, for fun and profit. I had an instinctive feel for how much to pay for northrend herbs, but very little 'feel' for older herbs, and blackfallow inks are still expensive. So like any good min/maxer, I wrote a spreadsheet for milling. It is written as a google docs spreadsheet. If you use google docs, you can 'make a copy'. If you use Excel or OpenOffice, you can download it.
Auctioneer's milling values seem to be based on the value of pigments. Pigments are rarely traded at a reasonable value. Consider selling the odd pigment for a 'reasonalbe' value.
Enter 'your' values for herbs, pigments and inks. If the 'markeup' column is green (high profit), mill it. If it is red (loss), avoid it. If the markup is white (no profit) or yellow(small profit), consider it if you must.
This spreadsheet is still to be considered 'beta' quality. I am still finding a few mistakes in it, but as a whole it works for me.