Being a priest, it is probably easier for me, as I run either Dead Strat or Scholo once every weekday. Plenty of bosses and, also, with 5-man parties, you are guaranteed to at least leave with one corrupters scourgestone. On many runs, I have won 2 (more bosses than party members, ftw! - although this is not guaranteed as some of the named's don't always drop corrupters scourgestones). So one token of valor is guaranteed per sucessful run. If you are lucky, you will get more

For reputation, once you hit revered:-

25 rep per named-elite kill (if I remember correctly: 10 named in Scholo will give rep and 7 in Strat) = 250 rep Scholo & 175 rep in Dead Strat

One 'guaranteed' corrupters scourgestone (as long as you complete the instance): another 50 rep - turning it in + valor token

Plus any other scourgestone turn ins (I've found I generally complete 1 pile of Invaders scourgestone after 2 runs. This varies depending on how many people equip their commisions).

So, potentially, you could walk away from a sucessful run with 350 rep from Scholo or 275 rep from a Dead Strat.

Also, a further point in Scholomance's favour, is the healthy dragon scales which occasionally drop from the whelps. It is a repeatable quest which will net you 50 rep each time - but you will have to complete the 'Plagueland hatchling' quest before these will drop for you.

Note: I put 10 bosses in Scholo, as the additional 2 (from the Dawn's Gambit quest chain are very rarely done)

As of 2.01 completing this quest gives 250 AD Rep.