Updated with further points or clarifications. I sort of generalized the instant cast/melee timer stuff, I don't have a druid handy to test things like Omen of Clarity resetting the timer.
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Bloodlust/Heroism does not lower the GCD. See Slant's FAQ thread in the official forums for details on the experiments:
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Considering there are multiple reports from classes that tested spell hate (including one just in of Gor Alt Tabbed In To WoW and Used Bloodlust and Spammed LHW and Got No Spell Not Ready Messages) and Slant's link doesn't actually show anything regarding testing I will leave this in.
Of course regarding your Mongoose declaration:
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1AP = 0.5 strength = 1.08 hit rating = 1.51 crit rating = 1.3384 agility
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Strength is more than twice as good as agility, and roughly 5% crit combined with the haste rating on the Mongoose proc itself (2%) is not significant enough for it to conclusively outweigh effectively a 144 AP proc. Potency has much lower material requirements than either Crusader or Mongoose and it is not a poor choice for this reason.
Further discussion of these points should probably be in the shaman itemization thread, though.