In one of the earlier posts i did about Jewelcrafting  i broke it down to the basics and came out with the fact that if you wanted to get into the jewelcrafting market you would need to invest 207 days of dailies in order to get all the patterns from the vendor. Well in MoP we have a different approach to how the patterns are obtained, namely you are given the chance to research a color of a gem by spending 3 uncut gems, and if you have learned all the cuts that you can have from that particular color then you can get a different color gem.
   If you take this into account and compare it with the previous 207 days you needed to do dailies, with this new way of obtaining cuts you are down to 68 days of dailies, but if you take into account that you can obtain gem cuts by spending 3 Spirits of Harmony you can knock off a few days from that count as well.
   Now that we looked at the time table needed to level a jewelcrafter, lets take a look at the gems and how they are going to work.
    In Cataclysm we had The Ore Shuffle  where we would prospect ore, cut and sell the rare gems and DE the rings and amulets we got from the shuffle to get Enchanting materials. Well in MoP this formula is a tad bit different, namely there are no rings and amulets right off the bat, you have to go and get them from a jewelcrafting trainer in The Jade Forest, but even when you get them there will be a catch. Namely this catch is the fact that in order to craft those you will need to spend 3 different kinds of gems for the green item, or if you want to craft the rare version you will need to spend 6 normal gems and 6 Serpent Eyes. 
   So as we can see the difference is huge, in Cataclysm all we needed was 1 gem and a setting, and now we need 3 different color gems, or 6 gems and 6 serpent eyes. It remains to be seen if this is still going to be a viable way to deal with the gems when the prices normalize.
   Now as you can see on the image above, there is another way to go about with your normal gems, and this way is to cut them. You see when you cut them you have about 15% chance that they will be a rare quality "perfect" gem. This means one thing though, you can choose which gem you want to make even if you don't have the pattern learned by now. For instance, if you want a 240 Stamina gem, but you don't have the cut learned just yet, then take a stack of Lapis Lazuli and get down to cutting, and with a bit of luck you will get a perfect one that has the same stats as the rare one.
   Ok now we know the time table, as well as how to cut any gem we need, what is left now is what to expect from the JC market.
   At the moment the Jewelcrafting market is very slow, and the reason for this is simple, people are still leveling or they have leveled up but aren't still geared enough to be able to start doing heroics, raids and LFR. Once this has been surpassed we will see a sharp increase in the gems market, and with that a sharp rise in the prices of gems.
   What you want to do to prepare for that is quite simple, from time to time browse the market for the cut gems, as well as the perfect cut version of the gem and if you see any cheap ones buy them out and store them. The reason for this is simple, the amount of uncut gems that is in circulation is alot smaller then the amount of gems that is going to be required once the people start getting gear that requires gems.
   Anyways here are the things that you might want to know if you want to get into this market:
Do your daily research cuts Check the AH for low priced gems and buy them out  Prices of uncut gems are going to be higher then prices of the cut ones for a while due to people buying them so they can use their daily cool down, so if you have some for sale, sell them uncut. You want to be playing your JC character because that is the only way to obtain the Meta gem patterns and the Spirit of Harmony that you can use the expedite the research of new cuts.    So by knowing this you should be well armed to start on your way to sail the waters of the JC market.
   So, like always, keep an eye out for good opportunities out there.