There's two questions here: what do I think, and what does Blizzard think.
I think what you're doing is just fine. Granted it skirts around the gray lines of the ToS, and some people are going to get up in arms about it, but that's more their issue than anything else. You're trying to play the game, trying to be respectful of the Terms of Service, and trying not to be hindered by (seemingly) unfair pricing practices. Some games, like EVE Online, even support exactly what you're doing.
As for what Blizzard thinks... Well, that's really a question only they could answer, and this is such a specific question with specific circumstances that I have to wonder if they'd touch it without some input from their legal department. Blizzard has said before that you can sell in-game items for gold, be it an in-game pet or loot code or whatever; but you can't sell out of game items for gold -- like a chair or a murloc toy. Does a time card code constitute an out of game item in the eyes of Blizzard? I don't know.
It's possible that it does however, and given that, I wouldn't trade gold for a time card code. Be on the safe side of this, because like you said, you don't want to get your account banned. Instead of trading for gold, use PayPal or something similar. If you need to avoid your exchange rates and you have a very good relationship with one of your guildies, send them your currency via snail mail and they can convert it to US dollars up here.
"I'm not an altaholic but I've got almost one of every class. I've been debating on whether I should level said alts to 80 or if I should just wait. I'm torn because I can't raid regularly with my schedule and I would like to see how each class plays to 80. On the other hand I want to see how each class plays at the higher levels. Is it worth leveling alts or is it better to wait?"
I think you're an altaholic, my friend.
I've struggled with the same question, although am in a tad different scenario than you. I've got the full shabang of alts, one of every class, all of them are at least level 60 now. Cataclysm isn't going to change the 60 to 80 game very much, at least from what we understand now, so I'm not waiting. I'll probably roll a goblin priest and run through the new content that way when the time comes, and then change my warrior over to a Worgen eventually. Yes, I'll eventually have two priests leveled, but meh... I never play my Alliance priest anymore anyways.
As for you, if you still have a couple classes you haven't rolled yet, I'd wait at this point. The early game is going to change significantly in Cataclysm, and you'll probably have a ton of fun running through that new content with a new class. While waiting for Cataclysm, I'd recommend leveling up the remaining alts to 80 -- that way you'll have your choice of class to pursue to 85 when you want to do that. If your curious about the classes you haven't rolled, load up an 80 premade on the PTR and play with them for a bit. It's a good way to get a feel for them.
"Please put my fears to rest, none of the content from the Argent Tournament is being phased out in patch 3.3 is it?"
There is no indication any parts of the Argent Tournament will be phased out in patch 3.3, or with any other patch for that matter.
"If the moon were to start changing phases, would worgen revert to their human form?"
No, Worgen sparkle worse than that Twilight crap. They don't obey the laws of normal werewolves. You heard me Genn, you're nothing more than a sparkling Chihuahua.
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