Getting reputation for the new factions is going to be beneficial in different ways. Earning reputation towards the factions is going to help you unlock Pathfinder in Kul'Tiras and Zandalari. Pathfinder is nothing new so i decided to include it in here. Pathfinder will give your character increased mount speed and its account wide. Also gaining reputation will allow your character to buy gear, from a vendor, equal to Heroic dungeon quality.
Full disclosure on my time with Battle for Azeroth thus far: I leveled a Horde character to 120 and completed all three Zandalar storylines plus put about 20 hours into end-game content. I have also leveled an Alliance character partway through Kul Tiras and completed portions of the Stormsong Valley and Tiragarde Sound storylines. My only experience in Drustavar has been through the eyes of the Horde thus far. 

Some players like to try to game the auction house to make gold by buying things for low prices and crafting them into more valuable things, or simply reselling them at higher prices. You can also use large amounts of gold to buy special luxury items like very expensive vendor mounts that carry portable auction houses and repair vendors. Sometimes you can find special mounts that were exclusive to the Warcraft collectible trading card game that was discontinued in 2013, though many of the most desirable ones, like the Spectral Tiger and the Giant Rooster, are very rarely sold on most servers, and go for the maximum price of 10 million gold.
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I had multiple people ask me why I didn’t do blood or prot for leveling on DK/Pally and the god honest truth is the fact that I know how to play ret and unholy quite well and the limits of the class. I tried leveling as prot and good Christ it felt like I did no damage. If you take selfless healer and wake of ashes you should have 0 issues with leveling as Ret and it is significantly faster. As for Unholy if you take grip of the dead to kite a little, deathpact for healing, and keep up with your Dark Succor (spelling?) procs you will have no issues. I died once as DK and none as pally. The only classes I struggled with a little was WW and Shaman. WW because the aoe felt under-tuned at the time and shaman because they are trash imho.
The WoW token is very simple: You pay Blizzard $20 for a token, and then you can sell the token on the in-game auction house. A player with gold can buy a token and redeem it for a month of WoW subscription time or for $15 of Battle.net balance, which is like a gift card credit that can be redeemed in WoW or other Blizzard games such as Hearthstone and Overwatch. You get their gold; they get your cash, or at least most of it.
While this income stream dried up when Legion came out in 2016, Draenor garrisons multiplied the total amount of gold in circulation many times. During the Mists of Pandaria expansion, you were rich if you had a few hundred thousand gold but, after Warlords, rich meant being a multimillionaire. However, the impact of this extra gold was blunted for a while, because WoW Tokens were redeemable only for more game time until February 2017, limiting how much gold rich players were willing to sell.

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As you're leveling, I generally recommend you just follow the natural flow of the progression through each zone. They're laid out fairly reasonably. But don't be afraid to hop around, especially if you're near a quest objective. You shouldn't actually need ALL of the zones listed to reach 62. Pick the ones you like best. It's much more important to simply be as focused as possible and flow from one quest to the next.
Lastly: The zone order I recommend for Horde is Vol’dun- Zuldazar- Nazmir. Vol’dun is definitely the most challenging of the bunch and having the use of your Legion gear and leggos will smooth this zone out. Nazmir is the easiest of the bunch which is nice when things start to get a little grindy past 116. For Alliance, I recommend Drustvar- TS- Stormsong. Same logic as the Horde side, in my opinion Drustvar is the hardest and Stormsong is the easiest for when it gets grindy. I would recommend you waiting to do any of the War Campaign until you are capped because it just takes you out of the way. I also recommend not killing a single rare mob or picking up a single treasure because in my experience it is just not even remotely worth it. The gear scales up on the rare mobs so its smarter to keep them till 120 anyways. After you are done leveling, I do recommend taking the time to do all the quest at the Faction Outpost in your enemy territory. They do provide rep for the Honorbound which helps. Most of them are quite easy. If you do not level in Warmode, you will usually hit 114 from your first zone, 117 from your second, and cap 120 about 2/3 in your final zone.
C C'Thun Alliance C'Thun Horde Chamber of Aspects Alliance Chamber of Aspects Horde Chants éternels Alliance Chants éternels Horde Cho'gall Alliance Cho'gall Horde Chromaggus Alliance Chromaggus Horde Colinas Pardas Alliance Colinas Pardas Horde Confrérie du Thorium Alliance Confrérie du Thorium Horde Conseil des Ombres Alliance Conseil des Ombres Horde Crushridge Alliance Crushridge Horde Culte de la Rive noire Alliance Culte de la Rive noire Horde
Though related, this is no longer true. You can now purchase a lvl 90 character boost. Some power levelers have hoped for a day when you could use real money to buy individual items in-game, some times called "micro-transactions." At a Game Developers Conference 2008, Rob Pardo gave a strong indication, Blizzard would not ever go this route with World of Warcraft.

There are various upsides to this imbalance. Max level players are able to complete lower level content with ease, allowing them to swiftly complete missed quests and achievements in earlier zones, and can travel through zones without being constantly attacked, since mobs will only attack players several levels higher than them if walked directly into. Max level also makes it possible to solo earlier group content such as dungeons and even raids, making farming loot such as mounts far easier, and for those interested in a challenge opening up a new subtype of play at slightly higher levels.
These quests for the amount of time to complete them are not worth a spot that a green quest and above takes up save for questing achievements - this can be finished up later at higher levels (such as for the Loremaster achievement) - or for later rep grinding. Do green quests as soon as possible to avoid the drop in experience when they turn gray.

I used fully upgraded and enchanted heirlooms; missing only the fishing ring. Leveling from 1-20 took ~3 hours, at which point I immediately turned on War Mode for the duration. I rarely encountered enemy players, and when I did they almost always left me alone. But the few times I did get ganked, the total cost in time was insignificant. Maybe a total of 5 deaths from ganks in the entire 40 hours.
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