Yet another fun thing to do in Outland:

1. Fly up the center of the beam of light in the center of Shattrath until you can't go any higher.
2. Dismount.

I got so high up that I couldn't see the ground anymore.

If you want to be a pansy, I guess you can use Slowfall, or a parachute cloak, or even a Noggenfogger if you're feeling lucky.

UPDATE: If you happen to have the X-52 Rocket Helmet, if you activate it at just the right time, you can survive the fall. Theoretically. I haven't been able to time it right so far.