Hello all,
I'm pleased to announce I reached exalted with the Netherwing as of late Sunday night and that I've obtained my Netherwing dragon mount.
I started the grind with the Netherwing faction the day after the patch and had been working steadily on it each evening for 1-3 hours a night. The quests were designed for solo play, so I had no trouble getting things done despite the fact I was playing in the early hours of the morning. The quest chain starts with Kindness (http://www.thottbot.com/q10804) offered by Mordenai in the Nethewing Fields in Shadowmoon Valley and it progresses through the chain for 7 more quests, which in the end you form a 5-person party to kill at 72 elite. Once you have done that, you will be bumped to neutral with the Netherwing. However, to continue past that point you will need to have the epic (300) riding skill. The drake that you get in the end is epic (280) speed.
When you reach exalted, you have a personal scripted encounter with Illidan before you are rescued to safety by a mature Netherdrake who gives you a ride all the way back to Shattrath. The whole quest line is well-written and is entertaining, so I wasn't bored silly with the whole grind. They have a random element, which is the collecting of eggs, so that always keeps you on your toes as you never know where or when you will find one.
Once you get back to Shattrath, you can choose among 6-7 colors (I picked the Onyx one, as it matched my outfit). As you can see from the screenshot, these things are HUGE and damn cool!
See you high in the friendly skies above Outlands!
Kalak