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It looks like it's a Horde only quest so far but that the pole isn't BoP so it could be sold at Gadgetzan AH.
Are you sure about that? Most quest rewards are bound to whoever does the quest. There are a few rare exceptions, such as the mechanical chicken non-combat pet. But they are few and far between. Until people start seeing them for sale I’m going to assume they are not tradable.
As for it being fair if its horde only, of course its not. And it shouldn’t be. There’s only one way to be 100% fair. We’d have to have only one faction, one race and one class. Then we could all play the game exactly the same way and get exactly the same equipment. Now doesn’t that sound like fun? The difference between the factions, races and classes are what makes the game fun. And as long as none of those differences unbalance the game I’m all for them.
There is only 5% difference between the big iron fishing pole that anyone of the appropriate level can get and this horde only fishing pole. The difference between 422 fishing and 427 fishing is negligible. Its not game breaking, trust me.