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Some people just have more gold than they know what to do with, I used to know some of them. I doubt they will even consider it a waste once they are craftable in WotLK, it's likely they will be swimming in gold at 80 just like they were at 70 and even 60.
As far as raiding goes, I assume people are still doing it because they enjoy it. That's pretty much the only reason to do it period now anyway, since the gear isn't the best for pvp anymore, and you can get the gear that is by losing 10 games a week and afk'ing in bgs.
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