There was a time several months ago where this quest gave very, very good gold rewards and decent experience reward, but it feels like the reward was hit a little bit too hard. For a quest that has no loot drops, the gold and experience is on par with quests of the same level (if not a little less).
This is Mundigo's quest right? There is loot in there, actually... Not many people attempt that optional part though.
They're referring to "part one," not the nightmarish ordeal of "part two."