i am not that far into the next part yet, but so far i love the quest. The fact that you get to choose your side brings a whole new level or roleplaing into the game, and really makes it more immersive.
I dont really have any suggestions for the quest yet, besides giving a better clue as to where to find the journal in faydark. The most important thing this quest will need to have is choice though, dont leave it at just good or evil, let us choose exactly what path to follow. Choice has always been the key for true emmersion.
EDIT- new suggestion, i had my wife do the quest after me, since we both like to keep spoilers to a minimum. Well she wandered around fearstone killing mobs, and i saw her kill the named mob that spawns where the letter is dropped....yet it didnt drop the letter. Seems only the PH for the named dropps theletter, so my wife uknowingly walked away from that spot and killed tons of mobs in other places for an hour or so before i told her to go back there. Should give the noble his own spawn ) or make the other named drop the letter too.