This is what I wrote up in the sticky:
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Enchanting is indeed a stand-alone profession (well, more or less). It gives you the required skill to get materials and make something out of them. In this way, it is a lot like tailoring; you don't need a second profession to support your craft (as, for example, blacksmithing NEEDS mining for most of the way up to 300).
Therefore, the tried and true formula is Enchanting/Tailoring. With this combination you can make your own items to disenchant. The catch is a minor one: you won't get any weapons made from tailoring, so getting essences can be slightly harder. Also, now you take out cloth as a source of income, making yourself even poorer.
Another combination is enchanting with a gathering skill. This way you can make money and then buy items off the auction house. It frees up any cloth you find to be sold, but means you need to either go after beasts in particular (for skinning), or out of your way for resource nodes (herbalism/mining). Out of these skills mining probably would make the most on its own, as two professions need a lot of ore.
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Leatherworking is actually much better.
I don't know if this is true... cloth can be collected without use of a third party (ie, the AH). Leather cannot without skinning. Still, I guess one would have to compare the cost of leatherworking materials to tailoring materials. Leather is usually cheaper than cloth, I will admit.
Basically, if you want to do it yourself, collecting the materials yourself, tailoring is the way to go. But I could see leatherworking functioning, and it might even be more useful for a leather/mail-wearer than tailoring.