Most of you have probably seen the news that Peep, the super-rare epic flying phoenix mount pictured above, was first given to Ezra. Last night, Method, of A-Sylvanas (Eu), got the world-first drop of The Ashes of Al'ar, the item that summons Peep. This was on their guild's first kill of Kael'thas, the final boss of The Eye. I don't think there are enough kills of Kael'thas that we have any idea what the drop rate of the Ashes is, but if it's anything like the Deathcharger's Reins (from Baron Rivendare) or the Fiery Warhorse's Reins (from Attumen), expect it to be significantly less than one percent.
By the way, how do we abbreviate "Kael'thas"? I would go with KT, except Kel'Thuzad has that one already. Perhaps just "Kael"? It's a bit of a surprsie to me that he would drop this; for some reason it doesn't seem quite "serious" enough for him. I had previously hypothesized that Peep might drop from the boss Al'ar, the Phoenix God, but that does not seem to be the case. Anyway, grats, Method!