Also, I can confirm that some recipes have multiple skill points. In particular the weapon recipes seem to grant 3-5 skill points vs. one skill point for armor enchants. However I didn't find a scenario where a weapon recipe had a clear advantage over an armor recipe. Unless you consider a shard equivalent to a dust or essence, which I don't.
One other thing to note - all of the Cataclysm enchants require item level 300 or higher. This means you won't be enchanting your own gear until the items you wear are level 82 or so. I think this rules out any way of power-leveling and enchanting your own goodies in the process. In fact, this may be why the enchanting vellums were added to the vendors. A recognition of sorts that Enchanters are expected to level their craft by creating vellums and not by enchanting the gear itself.
If you're currently at the level cap, the first new armor recipes you learn will be yellow to you. At this stage you can make those recipes and take the random miss (I did six enchants to get the five points, you're mileage may vary). You'll also learn two new weapon enchants, Avalanche and Mending, which will be orange to you. Both of these will give 5 skill points for one enchant, so you can go that route if you like. Another option is to make a few WotLK enchants. Since we cannot use the Cataclysm enchants until we're sporting 300+ gear, I think it's viable to make WotLK enchants for the first 5-10 skill points. You probably have some in your spellbook that are still orange, I know I did. According to Wowhead there are four: Blood Draining, Blade Ward, Spellpower to Staff and Major Stamina to Bracers. Of those, only the bracer enchant will remain orange through 460. I believe there's a chance for that enchant to stay viable in Cataclysm, so I'd consider using it for the first ten skill points. Once you make it to 455 you'll be able to access additional recipes that are orange difficulty and the need to consider WotLK recipes will be less significant.
Here's my progression list for leveling Enchanting to 525:
450-455: Bracer - Speed (recipe is yellow) | 10 dust + 5 lesser essence
455-460: Boots - Haste | 10 dust + 5 greater essence
460-465: Boots - Haste or Gloves - Haste | 20 dust + 5 lesser essence or 10 dust + 5 greater essense
465-470: Cloak - Intellect | 30 dust
470-475: Cloak - Intellect or Gloves - Ex.Strength | 30 dust or 15 dust + 10 greater essence
475 *** Enchant your rings if you wish ***
475-480: Gloves - Ex.Strength or Boots - Major Agility | 15 dust + 10 greater essence or 20 dust + 10 greater essence
480-485: Boots - Major Agility | 20 dust + 10 greater essence
485-490: Gloves - Gr.Expertise or Shield - Blocking | 25 dust + 10 greater essence or 60 dust
*** Can use Weapon: Heartsong if you have shards and volatile life to spare ***
490-495: Shield - Blocking or Cloak - Crit.Strike | 60 dust or 40 dust + 10 greater essence
495-500: Cloak - Crit.Strike or Bracer - Precision | 40 dust + 10 greater essence or 60 dust + 5 greater essence
500-505: Chest - Ex.Spirit or Bracer - Precision | 50 dust + 10 greater essence or 60 dust + 5 greater essence
505-510: Boots - Precision or Cloak - Protection | 10 dust + 10 greater essence + 5 Elixir of impossible accuracy or 40 dust + 15 greater essence
510-515: Bracer - Ex.Spirit | 45 dust + 15 greater essence
515-520: Boots - Mastery or Cloak - Gr.Intellect | 50 dust + 15 greater essence or 45 dust + 20 greater essence
520-525: Boots - Mastery or Cloak - Gr.Intellect or Bracer - Gr.Expertise | 50 dust + 15 greater essence or 45 dust + 30 greater essence or 20 dust + 30 greater essence
For the final five skill points, all three remaining recipes will be yellow to you. I had to make six scrolls instead of five, but it was still quite easy to reach the cap with them.
Also, I have a confession to make. I did not farm most of the materials for this profession, they were ill-gotten gains. I made inappropriate use of the character copy system in order to pillage pre-made alts for their enchanting stash. I'm SO ashamed!
The total materials required to reach the new level cap are:
385 - 565 hypnotic dust
93.3 - 161.6 greater celestial essence
5 Elixir of Impossible Accuracy (optional)