Cause seriously camping that place for over a day now (well, not one entire day, over a couple of days time whilst logged in), have not logged out, not moved, done nothing but guild chat whilst my champ sits on that rock.
Someone on an external forum said they seen the item taken before them, they waited in the same spot pressing space every ten minute or so. Other than sleeping and eating (doing other work whilst watching the second screen), it took 6 days and 2 hours for them to see the item spawn again.
So unless the item has spawned during the time I was asleep, !@#$ting and eating, it seems to have a massively ridiculous spawn time.
I'm just lucky that the Alliance haven't shown up to kill me. So far only seen 1 Orc Hunter in the area flying just above my camp and than flying away... I WANT MY ITEM DAMNIT!