It’s been almost a year since someone posted here, so I thought I’d add a bit of an update. With the addition of Luclin, Lake of Ill Omen is much less populated than it used to be. There are usually only about 20 people in the zone at any one time. So there is much less competition for the goblins than there used to be. And with the addition of Planes of Power, it’s a bit easier to reach the lake for non-porters. So this quest is very doable if you so desire.
I’m gathering a set of visible armor pieces because I like the look of it. I’m outfitting my bazaar vendor in it. But to be honest, the most fun I’m having is buffing the lower level characters that are there for experience.