It’s been a long time since I played WoW. I’m wondering what the most current opinions are!
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goblin is better
Goblin makes bombs. Gnome makes toys/utility.
In my opinion, damage consumables became a bit sub-par since they started sweeping professions under the rug. I’ve gotten a lot more use out of my Gnomish Engineering items than I have my Goblin Engineering ones.
I went Gnome on my engineer, because a lot of the stuff you build with Goblin has a chance to explode.
Gnome, I’d rather a faulty machine than one that’ll explode.
Depends on how you view making things that blow up and if you like getting blown up yourself. If so, then goblin engineering is the choice for you, else go gnome engineering.
I went gnome engineering on my first engineer, then goblin on the second one, so that I’d have access to all the things that both make.
/moo 
At this point the gear and consumables they make are so old as to be irrelevant except for transmog. Here are the more timeless exclusives:
Gnomish Engineering
Mount: Geosynchronous World Spinner
Teleporters: Gadgetzan, Tanaris. Toshley’s Station, Blade’s Edge Mountains
Toy: Gnomish X-Ray Specs
Transmog: I can’t remember but I think it’s all cloth
Goblin Engineering
Mount: Depleted Kyprium Rocket
Teleporters: Everlook, Winterspring. Area 52, Netherstorm
Toy: N/A
Transmog: Mining Helmets for most classes, I can’t remember what else.
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It being all cloth locked is a serious bummer. My Gnomish Hunter could really use some more goggles for transmog without having to grind dungeons and hoping for a drop on the RNG table.
Yeah I love my vanilla goggles, if I have a clothie that doesn’t need another profession I go engineering so I can transmog them. Mail is lucky that they can transmog those magnificent Steamworker’s Goggles without having to get the profession.
I dont think it even matter with how much professions have fallen
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Goblin is best because Horde 
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Good to have both, but at this point it doesn’t much matter.
Everyone knows that gnomes are the better engineers
Goblin (obviously.)
But all anti-gnome jokes and jabs aside, the newer patterns (since WoD) have been pretty much the same for both Goblin and Gnome. Only the translocators/transporter toys vary.
Gnome. Don’t need more weak bombs when you can have permanent gadgets & toys!
Goblin. They have the better bomber mount.
Goblin has a winterspring teleport and gnomish has a tanaris teleport which isn’t as useful because of the caverns of time portal.
In Vanilla, Gnome made … uh… arguably “interesting” things. Items to make you big, or your enemy small. Cute, I guess.
Goblins made BOMBS! And LAND MINES! And freaking COOL STUFF!!! It didn’t always work, but most of the time, it was all COOL STUFF!!!
All of that was slowly phased out, and by LK, there was no real difference.
I think it was in Cata that the distinction was removed altogether. Nothing from Cata on is even Goblin or Gnome. It’s a useless choice.
Engineering IN ITSELF is largely a waste of time. You can make the Golem, which will make you rich 2 months out of every 24. You can craft semi-decent helms if you are the most casual of casual players (otherwise, better gear is MUCH easier to acquire). And other than that, everything even remotely cool you can make with Engineering is SB. You can’t sell it, can’t help anyone, can’t do anything with it.
I would still tell anyone to take Goblin, but for 98% of anyone trying to have a REAL reason-- there isn’t one.
in the end ask your self which teleports you want to use.
Gnomish:
Ultrasafe Transporter: Gadgetzan
Ultrasafe Transporter: Toshley Station
or
Dimensional Ripper - Area 52
Dimensional Ripper - Everlook
Personally, the outland teleports are about the same to me, its really Gadgetzan or Everlook, I personally find Everlook not as useful. As such I stay with Gnomish.
My second Main a Hunter has Goblin.
If we’re listing…
Gnome Engineering
[[Gnomish Goggles]] Cloth
[[Gnomish Mind Control Cap]] Cloth
[[Gnomish Power Goggles]] Cloth
[[Gnomish X-Ray Specs]] Toy
[[Gnomish Rocket Boots]] Cloth
[[Nigh-Invulnerability Belt]] Cloth
[[Gnomish Harm Prevention Belt]] Leather
[[Gnomish Battle Goggles]] Leather
[[Gnomish Alarm-o-Bot]] Device (Consumable)
[[Gnomish Flame Turret]] Device (Consumable)
[[Lil’ Smoky]] Battle Pet
[[World Enlarger]] Toy Makes you smaller and hard to see
[[Plans: Inlaid Mithril Cylinder]] make the plans so Black smiths can make the Mithril Cylinder. Worthless these days. 
[[Gnomish Battle Chicken]] Trinket A robot Chicken fights for you
[[Gnomish Death Ray]] Trinket Ray gun Trinket, when it was new during Classic it was Overpowered, no not so much.
[[Gnomish Net-o-Matic Projector]] Trinket Traps your target for a bit
[[Gnomish Poultryizer]] Trinket Turns them into a Chicken
[[Gnomish Shrink Ray]] Trinket Makes them Small and less powerful
[[Ultrasafe Transporter: Gadgetzan]] Teleport toy
[[Ultrasafe Transporter: Toshley’s Station]] Teleport toy
[[Geosynchronous World Spinner]] Mount, cool looking Rocket with saddlebags.
Goblin Engineering
[[Foreman’s Enchanted Helmet]] Cloth
[[Goblin Construction Helmet]] Cloth
[[Goblin Rocket Boots]] Cloth
[[Goblin Rocket Helmet]] Cloth
[[Foreman’s Reinforced Helmet]] Mail
[[Goblin Mining Helmet]] Mail
[[Pet Bombling]] Pet
[[Super Sapper Charge]] Bomb
[[The Bigger One]] Bomb
[[The Big One]] Bomb
[[Goblin Sapper Charge]] Bomb
[[Recipe: Goblin Rocket Fuel]] Alchemist Recipe.
[[Dimensional Ripper - Area 52]] Teleport toy
[[Dimensional Ripper - Everlook]] Teleport toy
[[Goblin Bomb Dispenser]] Trinket Bomb
[[Goblin Dragon Gun]] Trinket direct damage
[[Goblin Jumper Cables XL]] Possible Rez
[[Goblin Mortar]] Trinket direct damage
[[Goblin Rocket Launcher]] Trinket that looks like the goblin racial
[[Depleted-Kyparium Rocket]] Mount looks like an old Nuke with a Cockpit and forward facing gun-mounts.
Hope this helps