Boom/Resto Gear ??

I just hit 85 yesterday and am blasting through heroics now, I was told that resto and Balance can effectively use the same gear. Is that wise? Right now my MS is Boom untill I get better gear, but should I then reforge into spirit over hit, and enchant haste over hit? I have read all the stickies and am still confused on this, my main is a holy/disc priest so this isnt a common issue for me.
We share gear with the exception of trinkets. The only differences are you will likely stop reforging at certain haste breakpoints for resto and go mastery instead, where as balance you just want as much haste as you can get. Alternatively Balance druids don't shoot for more than 17% hit(via spirit) while restos generally have more spirit, essentially giving them about 5% too much hit if they use their resto gear for balance without reforging.
There is no reason to stack hit on Balance. Balance has a talent that converts Spirit to Hit naturally.

Both specs follow the same rough itemization priorities:

INT > Spirit > Haste > Mastery > Crit

The only difference is that Balance wants to stop at a certain amount of spirit and stack as much Haste as possible, while Resto will want a bit more Spirit than Balance wants, but doesn't want to go beyond 2005 haste.

Oh, and both specs want a different Meta gem (Resto wants +%2 max mana, Balance wants the Burning Shadowspirit), so get two helms. Use the Helm and any tier pieces you pick up to make the changes in itemization specific to each class. Honestly, the difference between my resto and balance specs are the helm and gloves. Everything else is shared.

Edit: And trinkets. Forgot trinkets. I'm still using resto trinkets when I DPS only because I've had the worst luck farming DPS trinkets.