Actually, i'm not sure about the quest part but i'm almost certain that the epic mount part is real....atleast that's what i'm told, people who found out from others who are playing on Test.
i hope this is not gonna be more running around than for the enchanted gold robe quest thingy, god that took time :xIt probably is, since most of our quests involve us running around and crap like that. Yeah, it's annoying....but hey, sometimes it's worth it.