Along with the many bugs of Patch 3.0.8 was the undocumented new Arena matching and rating system which, similar to the Wintergrasp brouhaha, created disastrous results. Many teams skyrocketed to 2200 ratings, with wins garnering up to 30 points and losses resulting in... nothing. As you can imagine, this newfangled system which Blizzard didn't bother to tell anyone about until after the fact sort of trivialized Arena Achievements such as The Arena Master. Bornakk reveals in that post that the new system may exhibit "some odd behavior" but expects that things should "straighten out fairly quickly."
I'm sure that Blizzard didn't intend odd behavior to mean teams skyrocketing to 2k ratings with ease, with none of the risk involved in competitive ladder play. Straightening out also ended up as being the complete disabling of the whole system while Blizzard investigates "current rating calculation discrepancies." However, Zarhym posted earlier today on the forums that Blizzard will be bringing Arenas back up and all ratings rolled back to pre-weekly maintenance status. All items (and Achievements) gained "illegitimately" will be removed, Arena points refunded, and all gems and enchanting materials returned. As far as that 50 Gold tip you gave to enchant your gear is concerned, however, you're out of luck.