The best action to take is make a 10 twink first! From there, you can farm honor quite easily, twinks that do not really suffer from DIMZ (Diminishing Returns) have a higher chance of hitting a target and reaping more than usual honor. The highest honor awarded for a 10 twink is probably 40-55 if the target is a high level, but from normally kills anywhere between 11-33 honor.
Then when you get enough, you can proceed to buy brutal set. As for Old Content, I have my doubts. year 1, we were promised sunwell and other tbc dungeons, same back a few months ago, in February, however, all information for said content just suddenly vanished from changelog and dev information as if it never existed.
But at the end of the day, every person who wants to join this bracket, wants to be "prepared".