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I had the same decision to make on a book last night for 250g. Our guild is actually clearing AQ20 and in AQ40, so the stituation is a little different, but I decided I liked the cash better than the 62nd rank of Prayer of Healing.
I'd say wait. You have the chance of getting one since your guild can kill a boss in AQ20, plus with BC around the corner (well, kinda), you'd only buy you 3 months at best. I'd say keep yer money for the flying mount ;)
our guild ran it for several months with about 70% of the guild getting all the books we needed, but now we are in Naxx, and still doing BWL and AQ40 as well as ZG twice a week to farm enchants we dont have the time for it anymore. so im in a similar position, buy or wait for 2 months to train it. in my opinion the book i want (renew x) is invaluable so i will buy it on AH if i see it, at a reasonable price. they avg 250g on our AH, but i would buy one if i saw it for 200 or less. (what the hell it will cost 5g at level 62 so its only 195g :P)