As a profession to take while you're leveling early on, absolutely not. It will only sink your money while you could be using it on more worthwhile things. However, once you hit the 50ish range, it's very nice to have. Well, not so much enchanting but rather the "gathering" profession, disenchanting. Enchanting mats are always worth significantly more than their green quality counterparts. And why let a blue or epic BoP go to waste if no one needs it? Why not turn it into about 5 times its vendor value?
To prove a point, my main is a level 70 warrior and I have leveled up blacksmithing without mining purely by funding it with the money I make from selling enchanting mats. And that's substantial, on the upwards of about five or six thousand gold, and that's a conservative guess. Plus I have about 3 thousand left over, and that's WITHOUT farming. Also, if you are lucky enough to have any of the rare patterns, you can snag a lot of money from fees. I can enchant mongoose for anywhere between 30 to 80g with no questions asked, 100+ for soulfrost and sunfire, and easily 250 for surefooted (because it requires a primal nether), as well as a decent amount from other things like +spell damage enchants, +stam enchants, boar's speed sells ridiculously well, and savagery is ALWAYS popular.
Also when you are leveling up enchanting, you will typically have better gear (since you enchant it yourself!) which can really make you shine. This can make your playing experience more enjoyable. Also, you don't really have to go out and look for things to farm, which can be incredibly time consuming since, unless you're ridiculously unlucky, green or better quality items will practically fall into your lap when grinding or questing. Plus it helps when you have a crafting profession, as you can craft the items you need to gain the points you need to level and disenchant things that wouldn't otherwise sell well and make a nice profit.
And lets not forget the enchanter only perks, the ring enchants. While these may seem insignificant at first, ring enchants will last much longer than say the alchemy trinket or the BoP blacksmithing weapons (I've long since replaced my Dragonstrike and "Stun"herald with better gear, they're getting nerfed again anyways ><). You will always be able to put a total of +4 weapon damage (amazing for 2 fast weapons), +24 spell damage, +40 healing, or the +8 to all stats on a ring no matter the quality.
To prove a point, my main is a level 70 warrior and I have leveled up blacksmithing without mining purely by funding it with the money I make from selling enchanting mats. And that's substantial, on the upwards of about five or six thousand gold, and that's a conservative guess. Plus I have about 3 thousand left over, and that's WITHOUT farming. Also, if you are lucky enough to have any of the rare patterns, you can snag a lot of money from fees. I can enchant mongoose for anywhere between 30 to 80g with no questions asked, 100+ for soulfrost and sunfire, and easily 250 for surefooted (because it requires a primal nether), as well as a decent amount from other things like +spell damage enchants, +stam enchants, boar's speed sells ridiculously well, and savagery is ALWAYS popular.
Also when you are leveling up enchanting, you will typically have better gear (since you enchant it yourself!) which can really make you shine. This can make your playing experience more enjoyable. Also, you don't really have to go out and look for things to farm, which can be incredibly time consuming since, unless you're ridiculously unlucky, green or better quality items will practically fall into your lap when grinding or questing. Plus it helps when you have a crafting profession, as you can craft the items you need to gain the points you need to level and disenchant things that wouldn't otherwise sell well and make a nice profit.
And lets not forget the enchanter only perks, the ring enchants. While these may seem insignificant at first, ring enchants will last much longer than say the alchemy trinket or the BoP blacksmithing weapons (I've long since replaced my Dragonstrike and "Stun"herald with better gear, they're getting nerfed again anyways ><). You will always be able to put a total of +4 weapon damage (amazing for 2 fast weapons), +24 spell damage, +40 healing, or the +8 to all stats on a ring no matter the quality.