This quest was introduced in Patch 1.4 (May 5, 2005) when epic mounts with armor were introduced. Beforehand, the epic mounts that required 150 Riding Skill and the normal mounts that required 75 Riding Skill (or, at the time, Raptor Riding) were extremely similar, making them hard to tell apart. The only noticeable difference between these mounts was a slightly different size.

With this quest, you could exchange the unarmored epic mount for one of the armored ones. Many people chose not to do this quest mainly because these mounts were considered to have been a special accomplishment.

Finding someone with one of the old epic mounts is extremely hard, as not many players were able to make 1000 gold needed to purchase them in time.

Thank god i was not dumb enough to do this quest :)