There's certainly some room for improvement and you'll be glad to know that Blizzard has indicated they are looking at that.
Quote:
There has been a lot of discussion on the forums lately about the utility of various trade skills and how people feel they should be working. Much of the feedback we have received points to trade skills needing a little work and some better utility for those that choose to take them up. While we can't give you specifics on what is planned or even dates on when players can expect change, we wanted to let everyone know that all trade skills are being looked at and will be revamped over time. Engineering will be the first on the list, but all trade skills are being closely looked at and player feedback is a welcome part of that process.
Having said that, I personally think a number of engineering items will be useful.
The Zapthrottle Mote Extractor is basically free motes. Life and Shadow isn't worth much now, but once raiding starts in earnest the demand will increase (for Major Protection potions). Mana sells for good cash so far.
Adamantite Scope and Khorium scope are obvious money-makers.
Adamantite Frame is used in a quest so may sell for good money.
The Area 52 / Toshley Station transporters are a second hearth, always handy in my opinion.
Also remember that your trainer offers 2 epic headpiece item schematics and some other schematics which may be useful to you. Personally I expect to be using the Rocket Launcher as 45 Stamina on a trinket and an extra burst damage option is excellent for my Warlock.