I just recently leveled a new team to level 80 via dungeons. I used my Level 85 Prot Paladin to boost a mage, lock, priest, and hunter.
I did these dungeons in order
Utgarde Keep 70-72
Drak'Tharon Keep 72-74
Gundrak 74-75
Alterac Valley Weekend 75 - 76
Halls of Stone 76-78
Halls of Lightning 78-80
I used heirloom shoulders and chest with guild perk Fast Track Rank 1
It took about 20 runs per level. I could do about 3-4 runs per hour. Since it was a boring grind, I ended up watching a ton of TV and movies at the same time. Questing likely would have been faster, but wanted to see how long dungeon boosting would take. I will definitely not be doing it again any time soon.
AV weekend if probably the best way to level if you side wins most of the time. Unfortunately for me, my side loses most games.
Pro-tip: Once you hit Level 77 you can buy cataclysm greens and outfit your team. The grind goes faster when you slaves can do 3K dps with cata gear

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