I've pretty much put the hurt on the epic gem market on my server. They still sell, but I'll have to run some numbers and see. I've been dumping all my honor and badges on gems + transmuting gems.
1000 Triumph Badges = 50 Cardinal Rubies x 90g = 4500g (price on my server uncut).
Cut Red/Yellow/Blue go between 95g-125g so let's say 110g each. = 5500g
1000 Triumph Badges = 100 Green/Purple/Orange Gems = Roughly 7000g (uncut).
Cut Green/Orange/Purple go between 75-100g depending on the cut so lets say 85g each = 8500g
1000 Triumph Badges converted to Conquest = 5500g
If you are buying the red/yellow/blue and selling uncut then Conquest is prob the way to go anyways, but if you have a lot of cuts and time to manage your
auctions then cutting and posting is the way to go. Conquest = Guaranteed gold amount where as gems = Theoretical Gold amounts.
TLDR: If you're lazy use conquest badges for free money if you aren't try to milk the remaining tits of the gem market before they hit rock bottom
when cata launches / 4.0.1 hits.