After going through the full quest to find nothing at the end is very disheartening and leads to a wonderful quest being ignored by the player-base compared to other quests of that level. It is wonderful, it is out there, and could really use a material reward.
I've never done this quest nor ever heard of many people who have...for this very reason. If a quest isn't going to be rewarding, people aren't going to do it. If people aren't going to do it, why have it? Just remove it and free up space.
+1 weapons for everybody!
But in all seriousness... Yes, please.