Zone mobs do scale up with average level of group.
Drops also scale upwards with average level of group.
This instanced can be done in ten minutes(luck and a good puller are key here).
For a quick easy start:
Find:"a shady merchant", and say "I am interested". You can skip the rest of the dialog.
From there on out just follow your compass.
Luck is Having the ships log, scrap of paper, and crumpled note drop, be sure your looter clears all corpses before your camp moves along(yes, I am thinking of you necro's and your wake the dead spells). Clear corpses, loot everything. I personally destroy weapons, they do not make that big a difference in the split in the end, but waste a ton of bag space.
Pretty common drop whild clearing zone is
Greatmaul of Hatred.
Typically nice haul of gems, as is pretty consistant with LoY zones.
I have done this instanced multiple times, basically cause the AA is good, especially burning a vetrans reward, if you do not finish in ten minutes. Easily accomplished by letting Grimzek stay where he is until your ready/willing to take him out.
I have seen him pop/spawn in:
Captains Cabin
Foredeck (directly in front of instanced port in)
Sick Bay
And
Treasuer Room
Drops as I have observed them.
Grimzek drops:
Grp average 65 to 67,
Helmsman's Mask of Vision
and
Meticulously Crafted Sextant
Group average 68:
Buccaneer's Shield of Pillaging
Group average 69+:
Tactician's Cloak of Plunder
And
Silken Mantle of Skullduggery
The rarest drop I have seen:(yet still not won a roll on)
Sparkling Ruby of Sea
I hope this helps someone out.
Mobs give about the same xp as you would get at a good south wall group, but their dps output is no where near what you would see at South Wall in Wall of Slaughter.
Have only seen one time where I could have sworn there was backspawn, but am thinking we might have just jumped below deck before taking mobs out. Mobs were located north of instanced port in, at doorway heading to captains cabin.
Good luck and have fun!