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From what I've heard, you can usually get away with it as long as you don't actually sell the account, but "sell the ability to play the account that does belong to Blizzard." It's all in the wording. There's still a huge risk involved, however. You need to sell it now if you want to though...your HoR and 8/8 tier 2 won't be worth shit once BC launches.
My warrior has similar gear (8/8 tier 2, HoR, full DPS gear set from AQ, etc) and I've sorta debated selling my account but I just can't bring myself to do it after having 110 days /played on him.
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"A Darwinian attacks his theory, seeking to find flaws. An ID believer defends his theory, seeking to conceal flaws." -Roger Ebert
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