I've completed this several times and each time I have received 11g and 99s, along with the option of selecting either 2 Volatile Healing Potions or 2 Unstable Mana Potions. Since this is a daily and repeatable quest, this is an excellent source of getting potions if you need them. As other people have stated, he has multiple spawns which so far have included:
60,75
75,86
68,71
So he can spawn on either side of the lake, and is in an elevated hut inside a cage. An easy way to find him is to fly around and use /target skywing until he comes up. His respawn time doesn't seem too bad, just keep in mind he has multiple spawns. The escort self is very easy, and any class (i'm a holy pally) can even do it since it just involves killing two spawned level 71 skettis and takes literally 2 minutes. You get 350 rep with Sha'tari Skyguard upon completion as well as each time you repeat it.