To clear up some confusion, this is NOT off the High Priest in Ssra Temple. There are 2 "High Priests" in Luclin zones. The Ssra temple snake is very nasty, behind a somewhat obnoxious keyed door, and takes a raid by a high level guild.
The High Priest in Acrylia Caverns (and his non-named Grimling High Priest booby-prize PH) is the final mob in a triggered encounter than can be done by a group or 2 of 58-60 folks, tops. It could be done with well-organized lower folks, too, although there's not much room in there, so a mini-raid of 51-54 people would have to be organized, but I don't see why it couldn't be done.
Its not a great item ... but its not like this is off endgame stuff.