Heirlooms and you

Heirlooms are a class of gear that is bound on account and can be freely traded between character on a server.  Heirloom gear has the curious property of starting at level one and being able to level up along with your character.  Some heirloom gear provides additional benefit by helping you level faster.  This can be paired along with other leveling bonuses to dramatically speed up leveling.  

You can currently fill 7 slots with heirloom gear in game.  Not only can this help greatly speed up leveling it can keep you from having to buy upgrades that may not be available via quest rewards.  Note that the stats of the various heirloom gear varies a bit depending on the location of its vendor.  Gear from Wintergrasp leans more PVP that gear from the other vendors.  With the simplification of stats this does not have much of an impact on leveling.  

Headgear

Heirloom headgear have a 10% experience boost from quests and kills and stack with all other Heirloom items.  Heirloom headgear is available from Guild vendors after leveling the guild to level 20.  You will also need  to be Honored with the Guild to purchase them.

Shoulders

Experience gained is increased by 10% by equipping Heirloom shoulders.  Heirloom shoulders were originally sold only in Wintergrasp or Dalaran. They are also available at the Argent Tournament Grounds in Icecrown. Now heirloom PvE shoulders are available as prizes at the Darkmoon Faire and can be purchased from the justice vendors in Orgrimmar and Stormwind.  

Chestpieces

Heirloom chest pieces have a 10% experience bonus.  Much like the heirloom shoulders the chest pieces are available at the Argent Tournament Grounds in Icecrown, Darkmoon Faire and at the justice vendors in Orgrimmar and Stormwind.  

Weapons

Unlike the other heirloom gear, Heirloom weapons do not provide an experience bonus.  Weapons are available at Wintergrasp, Dalaran, the Argent Tournament Grounds in Icecrown, Darkmoon Faire and at the justice vendors in Orgrimmar and Stormwind.  

Cloaks

Heirloom Cloaks provide a 5% experience bonus.  Cloaks are sold by guild vendors and are available once a guild has achieved level 10.  You will need to be honored with your guild to purchase them.  

Trinkets

Heirloom trinkets are sold in Dalaran, Wintergrasp, at the Argent Tournament grounds, at the Darkmoon Faire and at the justice vendors in Orgrimmar and Stormwind.  Heirloom trinkets like Heirloom weapons do not provide an experience bonus.

Rings

Currently there is one Heirloom ring available as a reward for the Kalu’ak Fishing Derby in Northrend.  Heirloom rings grant players an additional 5% XP bonus.  

Enchants

Heirloom gear is generally considered level one by the game and can only be enchanted by enchants from classic World of Warcraft that do not have a level restriction.  There are some exceptions to this rule of thumb but it is simpler to just enchant with a good classic enchant and not worry about enchants that only work for a select number of levels.  

Which to buy?  With my army of alts I have a set of shoulders and chest piece for each class and spec.  The only one I do not have is a spell power leather, because at the time only one of my alts needed it so my boomkin borrowed my mages old heirloom gear to level up.  Ever see a male tauren in a dress?  needless to say I stay in moonkin form almost exclusively.

There is not a lot of time before Mists of Pandaria is released so I would encourage everyone to take a serious look at their character’s Currency tabs and see what peices they can pick up for their newly rolled monks.