Basically, you can level blacksmithing from 1-500 with just ghost iron ore.
It's very similar to the new method to leveling cooking.
However, this should increase ghost iron ore sales.
This new BS leveling system is not only going to impact those selling kits or those just selling bars and ore, but also those that sell recipes. More people are going to hit BS 500, and not even care about old recipes.
This should also alert us that Blizzard may be working on closing this profession leveling gap with ALL professions. I wouldn't be surprised to see changes made to LW, Alchemy, etc etc in the same manner.
Continue selling kits/mats for the other professions, but I would start offloading all your BS mats now that are just for leveling BS. (May be able to use them to craft neat weapons and whatnot, so keep that in mind!)
See Argalin's Smelting Guide to see what other good uses you can get out of ores and bars.