First things first, you've got to get Honored with Ogri'la, and then do the Banish the Demons quest, which allows you to get the items necessary to start the event itself. After that, you can pretty much follow Sadiki's guide-- he walks you through setting up the event, and all the different phases. The event itself is fun, too-- you abandon your own body, and instead fight through the even by controlling the demons. The final demon (which is actually pretty close in mechanics to C'thun in AQ) will actually drop Epic gear... kind of.
What he'll drop is "Depleted" gear, which you then have to activate with Apexis Shards. The Epic gear created isn't completely great, but there is one amazing piece-- the Depleted Badge drop turns into the Badge of Tenacity, which is so phat for tanking druids we'll have to feature it in an upcoming Phat Loot Phriday.
So yes, the event is some good solo fun, and though there's quite a bit of questing you have to do to set it up, getting Epic loot from a solo quest is always awesome, and following the great guide should make it easy.