Blizzard have just released the current conversions for Emblems to points and gold, they are as following:

The following items are immediately converted to gold:

* Emblem of Heroism = 5.5 gold each
* Emblem of Valor = 5.5 gold each
* Emblem of Conquest = 5.5 gold each
* Badge of Justice = 1.833 gold each

Your New Honor Points total will be the sum of the following amounts:

* Old Honor * 0.024
* Old Arena Points * 0.85
* Battleground Mark of Honor * 2.976
* Wintergrasp Mark of Honor * 19.08
* Stone Keeper Shard * 1.6
* Venture Coin * 3
* Spirit Shard * 1

Your Justice Points total will be equal to (Emblems of Triumph + Emblems of Frost ) * 2.75

Again, the softcap for both Honor and Justice conversions is 4000 points. This means that if a character converts to above 4,000 points, it will not be possible for them to earn more until they fall below the 4,000 cap.

A hardcap will be implemented in a following patch before Cataclysm’s release. At that time, any excess points above 4,000 will be converted as follows:

* Honor points above 4,000 are converted to gold at a rate of 35 silver per point of Honor.
* Justice points above 4,000 are converted to gold at a rate of 2 gold per point of Justice.

Blizzard [Source]

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