I'm never going to starve as a Tank for food. I farm all of my own food.... through fishing of course. And I sure don't like to beg for food in Instances or raids. When I'm on a guild raid guess who often drops that Fish Feast for buffs for everyone else?
But as a Alchemist Tank (rare). I found a good use for making Elixir of Water Walking. Its obvious how to use it. Stand on the lake and fish. You rarely have to fight any mob. Though beware of your surroundings. If you get hit you can loose the buff so don't be crazy using it either. You only have to run around on top the lake to the next node. Sure beats fighting the mob to get to the hole on land and the next guy as well. Mount up, fly across lake, dismount and fish at node. Win. Of course it looks funny to the next guy you there standing on water as well. Its cool way to fish.
In 3.1 It seems the fishing timer has being reduced from 20 sec down to 16 sec, so seem its faster to fish. Also when you now catch a fish I've notices the splash now makes a much louder noise as well so you know you caught something. Fishing seems allot faster to me as of the patch. Of course I do it because I enjoy fishing. It also helps pays the bills as well.