So basically every.single.player in game will have one version of it or another?
in ptr battered hilt (quest item[epic] needed to start quest-line) looks pretty common. really high drop rating.
i m sure it is for testing purpose, quest line have somenthing like 12+ steps.
i suspect on live-server it will be a lot + rare.
and i doubt it will be BOE like now: it would create a new massive ingame gold-inflation, pretty sure it wont be BOE.
quest line is pretty fast: completed in about 2/3 hours, not much if i consider it needs 2.5 instances runs, and various travels in northrend and needed to find some new npc.

If there's a one-hand version, my prot pally will be quite happy.
bad news, according mmo-champion database: no tank version avaible. there are single hand versions, for casters and melee.
1st boss in Forge of souls normal drops a new tank-mace (got during quest-line): it have a nice look (similar ulduar big mace) but it is just lvl 219.

not a fan of the haste on it, but i like it. nice weapon to replace my titansteel mace.
there is a 2h version with huge agility in place strenght, similar crit and expertise(84 points or so) in place haste and a gem slot+pure ap(160+): somenthing similar to a empowered version of marrowstrike from tocH, but not sure what is better, probably requires testing.

BTW, what addon are you using for your unit frames?
pitbull 4, personal profile, my "slim" edition