Spinks beat me to it a bit, but the green drops aren't always bad either:
One thing I have noticed though is that random green drops in Vash’jir look to be better quality than similar green quest rewards. (For example, I picked up a level 79 dagger with 963 spellpower on it – that’s a similar item level (283) to the caster drops from heroic 25 man Lich King. Level 79.)
I'm mostly running Hyjal, but it's true. I mentioned in April 2009 that I rarely find drops that instantly replace something I'm using (they usually go to the AH for me; Spinks say she automatically DEs), and have a green drop already in there from Cat.
I can't decide if Blizzard is virtually bribing us to buy or if this is actually a way LK-only players could be kept separate from Catters. I used to be sure it was the former, and now I'm not as sure. I'm confident more are interested in the first, though.
Anyhow, here are some pix of the greens with comparisons with my current gear that I either took or considered as quest rewards (or got as a drop) that have likely already hit the gear rotation. Admittedly, some of my gear is crud (this is when I remind you that I'm a "part-time" player), but it's interesting to see. You'll probably have to click them to read some, as Blogger will miniaturize the shots to fit. I mean, seriously, +260 spellpower out of the gate? Sheesh. I ran Heroic Azjol-Nerub while playing just for fun and, boy, I'm already nearly an end gamer for LK.
(Note: I didn't get them all. For whatever reason, taking a screenshot (there's no screenshot key on my MacBook's keyboard, and I haven't remapped for when I'm playing away from my KVM) only comes out about 40-50% of the time.)
Btw, don't forget to pay for Illustrious skinning (any skinning trainer, afaict), first aid, etc.
Has anyone else noticed the reroute landing page for the Armory is pretty facebooky now?