for anyone stopping in BEFORE completing this/choosing a reward:
to the best of my knowledge (and going through threads here & on other sites), Revilgaz's Cutlass is a *unique* cutlass/sword model in game. There are scimitars, rapiers, etc. but ONLY this one looks like this.
So if you are a sword-wielder, consider that, esp. with 4.3 on the way. I am praying I haven't done the quest yet on my rogue, because I am trying to 'mog him into a cavalier/ city-duelist type - but not a pirate/swashbuckler. This is a perfect main-hand model; I just need some kind of main-gauche and a proper Musketeers-style plumed hat. :)
update: I tried checking both Rev & Seahorn, but both only had flavor-text comments. I figured I had just done them a long time ago, and forgot.
Then, I found out there are pre-req quests: you will need to first do "Sea Wolf" MacKinley (2 quests) and First Mate Crazz's tasks. Also, while doing these, you will be given a reward option of a Pirate's Musket ([item=61576] ; a model you won't see again until lvl 63).
From what I can tell, this whole questline has been re-written/re-tuned, so don't get that 'Ugh! Not this stuff again!' feeling, if you did it on another character a long time ago.