This item can be MQ'ed. I turned in the small shield (no drop) item and then a cleric in my guild immediately turned in the other items to receive the reward.
I just finished this quest tonight. The Gold Disc from isle 2 is the same as the golden disc asked for by the quest mob. There is only one disk. The "Gold Disc" is the item to turn in, same as the monk item.
Well, now that wisdom has a 255 cap for mana, I'd take this over a few other shields just to have some wis sitting in my shield, unlike the SBS, which, is useful for resists, but when you want ac AND wis, well, this item still pulls it's weight.
I am sorry, but should you be high enough to get this shield you probibly have more then enough wisdom and it would be 1000x easier to just get your Prismatic shield from PoH (Which gives you 10 to all saves for those dragon encounters, hell, even in just exping)... This may be a good item to give to a twink, but you aren't gunna get one to PoA cause they guy is No Drop...
Looks good on paper, but so does the montreal Canadians, but we all know how bad they are ;)