Some neat lore with this item as Nortlav (well his echo) also drops a red dragon scale. So his drops match his story of being a dragon slayer.
Sword is tradable on FV lootrules servers.
I've known the odd low level Erudite SK (they are rare though) that gets an assist to acquire this item at extremely low level. It is a bit different looking, especially when you consider the era it was put in game.
Still drops in 2016.