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What knid of flyers are available for BE locks? Is there a summons?
Only the normal Horde windriders. Faction has no effect on the warlock's mounts. The only class that has a class flying mount, as others have said, is the druid flying form.
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Also, other than looks, how much better is the dreadsteed than the felsteed?
40%. Normal mount (felsteed, in our case) is a +60% boost, the epic mount (or Dreadsteed) is a +100% boost.
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And since the ultimate goal is now a flyer, would you spend the effort and resources to get the epic ground mount?
You need to have the riding skill for the epic ground mount before you can learn the riding skill for the flying mount. So, yeah, it's worth it the effort and resources.
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Is the xp any greater than other available quests?
Depends on your level. If you do it right at 60, I imagine the XP's pretty good. If you wait and do it later, like I did at 68, the XP's not so good.
Just do the quest. The quest chain, while a bit spendy, is quite fun, especially the final summoning event. It's a unique, eye-catching mount. Not a lot of people seem to bother doing the epic mount quests anymore, for either warlocks or paladins, and it makes you stand out even more. It says, "I'm willing to put in time and effort to get something that's pretty cool!"