Steamwheedle and Bloodsail Together?

From Claudiu
I was wondering... why should I work on the Bloodsail first?. Do you need to get honored with them and exalted with the goblin faction in the same time? I read a bunch of comments on the internet about it and some GM mentioned that once you reach a certain step (exalted with the goblins for instance) it is saved and you don't need to worry about maintaining the rep level with them. Maybe not terribly practical but I'd like to know. It's a bit unclear and I was thinking you might know more about it.

Thanks,
Claudiu
I dont know the current status of the Bloodsail/Steamwheedle requirements. I know that when I played it was REQUIRED that you were Honored with Bloodsail Buccaneers and Steamwheedle Cartel at the same time. If you could cite some sources I can look into it and makes some changes to the guide.

Thanks,
Callahan
OK here's one link to the forums where this is discussed.
http://forums.worldofwarcraft.com/thread.html?topicId=16473758672&sid=1
I know it's hardly solid evidence. However I did armory the guy
http://www.wowarmory.com/character-reputation.xml?r=Thaurissan&cn=Lintelotiel&gn=Not+Steamboat
He has the title, is honored with the pirates and hated with the goblins. If you noticed 3 out of 4 goblin factions have almost the same level meaning he decreased them all in the same manner, which I assume was done by killing Booty Bay guards or something along these lines.

Thanks,
Claudiu