In response to all these posts...
Yes fishing can be profitable by the hour, yes it's possible to get 30g or more per hour.
While for one thing that does not even compare to other methods of earning gold in the game, it is also HIGHLY dependent upon luck, moreso than any other means.
You essentially have to be realing in a legendary fish every 2 to 3 minutes in order to get the ambergris required to hit that 30g per hour mark.
They are only obtainable from legendary fish.
The more important thing here is that the levi farm has removed an entire mechanic from the game, there is no reason to fish at all if you're not at least making some form of progress, aside from it being relaxing.
I know that this was not intentional because for one thing, he has a fairly long spawn timer. The way people farm him is by abusing the map mechanic, using alts and multi-boxing clients to run 'map holder' characters in several maps at the same time, so that the squad can constantly jump to a new map with the spawn up or very close to being up.
I also know this was not intentional because it is the ONLY event in the game that provides a reward of such value every single time you complete it, all other quests with rewards that high are DAILY only.