I am now 78, been doing 6 quests in total :-) I've ran close to 100 instances, with a friend of mine, prot paladin (playing 4 shamans). We got a ton of enchanting materials and made it "Realm First! Grand Master Enchanter", which is kinda nice - got TONS of whispers, claiming that we were either insanely rich or we somehow exploited it. We have ran 28 Gundrak instances, which is the instance we have ran most. (20 minutes each run).

I think it's alright to run instance, when you get into the mood, sitting/talking, listening to music - (12 hours of straight instance)! But I do not believe it is the fastest way, but at least it brings alot of profit and I doubt that enchanting would have been possible without.