i got lucky on the ring, was doing 10 day wotlk trial, did the contest and caught a black tip shark on the coast of howling ford, hearthed to dalaran and won. it was caught in open water not from a school.
as for the AGM, reading many threads that have players charging up to 12000g per AM/chest, players camping it: for Tmog gear, for spite, or XX numbers of twinks constantly there can be aggravating.
imo best way for AGM's, since most players are gonna faction swap anyway for gear, i recommend starting twinks on crap low pop servers, getting your AGMs and faction gear, then server/faction swapping to the server you want to play on. this costs the same as doing it on a hi pop server.
there are plenty of extreme low pop servers right now, take advantage of it cause blizz has posted they are looking to address the issue along with extreme imbal servers