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XP scales with your toon's level so you don't need to go Outland or Northrend (although you can if you want to get achivs).
Best tip is always always get the best speed mount like at level 70 your xp/hr sucks with the 150% speed but once you get 280% it gets pretty good, especially with heirlooms/guild perks.
Personally I didn't bother getting the 310% speed as by the time they hit 80/81 they are doing mixed mode Quest/PvP with ArchBot for over night AFK levelling goodness.
I leveled all the way from 60 to 85 in the Eastern Kingdoms on a prot pally. Got the Destroyer of Worlds one evening and switched to ret; I like the looks of it. I had zero problems - the XP scales with your level. He works in Northrend now, collecting Vyr'Kul artifacts. It's marginally slower, only because you're no longer scaring the various mobs to death with a single glance.