With few exceptions, the most powerful gear in the game is earned either as PVP (Player vs Player) rewards in battlegrounds, or by fighting consistently over a long course of time in the highest difficulty raid instances. Large PvE (Player vs Environment) raids normally take a few hours to clear entire dungeons, such as Molten Core, Ahn'Qiraj, and Blackwing Lair. Because of the extreme damage monsters at this level of play can inflict, a common practice is to accouter with specialized equipment which protects against a particular element, such as equipping items with high fire resistance before facing a raid involving monsters that primarily deal fire damage.

Overall it means if you want to participate in high end instance raiding with your guild, you have to spare a few hours for farming (how many depends on population at current server and how many farmers are in current place) and then a few hours in dungeon. Overall the gameplay is really quite amazing in World of Warcraft...and with an expansion pack debuting soon, it will only get better. Therefore it is only one part of the high end content (more entertaining one) other part is endless farming of various stuff which need for participating in raid. Mostly it is about farming money for buying or herbs for making various potions such a "major healing/mana potion, greater resistant potions" and many others. 
 

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