This quest is NOT given by Chronos, it's actually given by Rinling, a troll in one of the main tents.

He says:

"My new booth will be a sight to see, yes sir! A sight to see, and... for a lucky few, to touch!

"I can already hear the whirring bronze gizmos singing their song of mechanical rapture as patrons step to my booth and test their skill!

"Ah.. now I need the gizmos themselves to bring my dream closer to fruition. Please, Takishani, bring me the whirring bronze gizmos... and Darkmoon Faire tickets will be yours!"

This quest gave me 100 reputation points with the faire, equaling 3.333% of a bar for each turn in when I was at neutral. I turned in this quest 3 times right after they stopped letting me turn in the copper modulators, and it's still not locked out for me -- need to get some more bronze and keep trying, so I can tell you when it stops letting you turn these things in. 30% into neutral still lets me.

All in all, I'd say this quest isn't really worth it, because the wool needed to make them can be pretty expensive due to its low drop rate and its use in the faction reputation quests. Unless you're low enough level that you're fighting things that drop wool a lot, and you can make these items for engineering skill, of course.

Oh yeah, and when you turn it in, he says:

"You brought the gizmos! Wonderful! Even now I can hear their buzzing, whirring chorus in my mind! Oh, when this booth is ready it will be the wonder of the world, mark me!

"Here are you tickets, Takishani. And please enjoy your stay at the Faire!"

That "you" in the last paragraph is their typo, not mine.

Edited, Mon Sep 5 20:33:33 2005

short answer is 20 copper modulators then 35 bronze gizmos is what I was allowed to turn in.

Details:

As a human (+10% rep), I get 110 rep per turn in for Copper Modulators and Whirring Bronze Gizmos.

I did the darkmoon fair quest from the guy wandering in IF and got 5 tickets when I turned that in.

The Copper Modulators quest was available 4 times, so I turned in 20 copper modulators total for 440 rep with darkmoon faire.

I was allowed to turn in Whirring Bronze Gizmos 5 times before it became unavailable, which means 35 gizmos and 550 rep.

For that I have 29 tickets and 1045/3000 rep with darkmoon (neutral).

You can only complete this one 3 times before you move on to higher stuff.