just wanted to add that I do not have mounts for my shamans for several reasons.

1. ~500g is more than I care to spend when Im trying to get epic flight form.
2. ~ pre-outlands 95% of my time is spent inside an instance so a mount wont do me any good there
3. ~my hearth is now in shattrah as of lvl 40 thanks to a mage guildie lol (he just randomly came over and made me a portal and said "dude you gotta go to shatt thats awsome!" haah) so being able to, every 15min (recall I love you) go to any major city in a matter of minutes has made travelling minute.
4. Once I get to outlands I will probably go for the mounts since ill have taken care of other expenses by then (and being to do dailies on 3 lvl 70s is pretty decent cashflow lol) Since I will be doing much more questing in order to gear myself up before running instances.
5. Ghost wolf is enough for now and I can do it while in combat so win/win