Fought him today with my 97Paladin, 96Ranger, and 97Mage. I had two cleric mercs and a melee dps merc as well, and the air pet did most of the tanking. He uses his ae often, but it doesn't hurt too bad; 20,792 damage to the whole party, but not the pet or mercs. Dreadmole hits hard; 16k aggainst the air pet. Lots of hits above 10k.
Dreadmole despawns every so often during the fight, and summons 5 mole pups. The mole pups have low health, and usually agro the tank. If all the pups are defeated, dreadmole will come back immediately so you can dps him. If the pups are not defeated in time, dreadmole will still return, but you will have to contend with him plus the mole pups that you didn't defeat. If mole pups from the previous wave are still present when dreadmole despawns the next time, the previous wave of pups despawn. There will never be more than 5 mole pups due to the previous wave despawning.
Real pain in the butt to box him, as the mole pups don't survive a full macro worth of dps, and assisting became a pain. Still took him down though after 400 seconds. He was the level 100 version, not the 104 (thank god), and he dropped a spiny Whelk-Fist. https://everquest.allakhazam.com/db/item.html?item=103417