It depends on your leveling route, but on later levels ( >30) it's probably better to heartstone in shattrat then in the local inn for faster traveling.
For the bags, I suggest
[Mooncloth Bag]s. Unlike
[Netherweave Bag]s they are not soulbound and can be used by your next twink when your actual one has got 18 or 20 bags.
If you want to have some reputation with you alt, the grind can be combined with leveling for some factions like Timbermaw/Argent Dawn/Kurenai/Consortium(Gems)/Sporregar/etc.