Kaivax, a WoW forum community manager, revealed that WoW Classic's class design, battleground mechanics and stats on existing items will be set to their 1.12 state, despite the game releasing content that expands beyond that. This removes "progressive itemization," so if the stats on a specific piece of equipment was changed during the original updates, that won't take effect in this version.
This option is better to use at level 40+. Higher level you are is better, more money you make then. All you do is farming dungeons or specific bosses. Here you kill a few birds with one stone: you get lots of experience (make sure you have all quests in your quest log, always ask your teammates to share) if you are still leveling; improve your current gear; and loads of loot (clothes, recipes, even crappy grey items selling for a lot to a vendor). If you are in a group, think about your groupmates if they need an item or not, don’t roll need on everything.
Only really to expand on Gráinne's comment as regards the 'collecting' and 'roster development' sections - which are, as said 'distinct' although they are intrinsically linked - I would like to point you in the direction of the in-game Achievements > Battle Pets > Collect tab. There are a series of achievements called Raiding With Leashes, pretty much all of which can be completed via the auction house - if you have the gold/inclination - or by completing old raids.
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