Yesterday, Bornakk said clearly that the Battered Hilt drop that starts the Quel'delar questline was dropping at the right rate, which is much less than when the patch first hit. And then of course, in last night's fixes, they went ahead and increased the drop rate anyway. He also claimed there were no plans to make it BoP, but who knows what'll happen in the future? For now, however, you can still buy and sell the quest item for quite a bit of gold. We'll have to see where the price eventually ends up -- on the staff here, we've seen anything from 8,000g to over 23,000g, and Twitter tells us that people are paying an average of around 12k or so, going up to as high as 30k (or even shady real money offers in online classified ads). Our own Matt Low has actually seen the drop three different times, and lost every roll. It drops off of any of the mobs in the Heroic versions of the Frozen Halls 5-mans, and as Bornakk says, any class can use it to come up with a pretty solid weapon, so the competition will probably keep the price high, depending on where the drop rate ends up.
The silver lining, if you really want one, have terrible luck, and don't ever expect to have all that money, is that the price will probably go down eventually. Bornakk says that as people move up into Icecrown and start picking up weapons that are even better than the sister blade, demand is likely to drop off a bit. But he also says that Blizzard does want this to be a special and relatively rare item, so you'll still have to probably either be lucky or ready to grind it out. Good luck -- I'm out there searching for one with you.