Originally Posted by Incadelico
I'm not sure if I understood you correctly, but trading an elixir for a flask is a 2:1 exchange (450 stamina vs 225 mastery) tradings gems (and also trinkets, not to mention the usefulness of mirror) is a 1.5:1 exchange, (60 stamina vs 40 mastery/575 stamina vs 383 mastery) so I'd go with option A).
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Sorry I forgot to include the prismatic elixir i am also using which adds another 90 additional resistance to all spell schools, so trading "2" elixirs (225 mastery + 90 resistance) for a stamina flask is not a simple 2:1 exchange. Thanks for bringing this ratio comparison though.
Since there is a fair amount of magical damage in fireland raid encounters, I would agree that keep using elixirs and mastery food is the way to go. So for now I will go with re-gemming from mastery to stamina, and see if I can convert them back and replace a mastery trinket with stamina/avoidance as gears improve. I hate not having the flexibility to change trinkets according to encounter, just because I am not at full CTC. Another reason is that the fireland reputation trinket which gives 383 dodge rating and an on-use effect that absorb ~50k damage seems to be another powerful cooldown to be placed in our "long queue of cd".
Thanks for the replies guys.