This is how I make my riches. I got a rune platebody, gold-trimmed, from doing this for a while, so don't think it's dumb. For my cash, I mostly mine coal in the Dwarven Mines. If you can mine at least 100 coal every hour, every day a week, you can make around 130k or so a week, making it around 7 1/2 weeks to 1m cash. That's pretty fast, and it's only an hour every week. Double your time to two hours, an you're making 1m a month. Play like Lord of 9, and well, you get... uhh... nearly 1m a week. But don't play like Lord of 9, he plays 7 hours a day. Anyway, I also like to mine gold in the Crafting Guild. It's fairly fast to get 40 Crafting, just not very cost-efficent. A recommended world to mine gold is the highest-populated Clan Wars world. With the semi-new Free-For-All option, people go like crazy to Clan Wars, so there's usually not that many people around other areas.
Those are my strategies, thanks.