I found this post while angrily googling for information about the hat. As of yet, I have NOT gotten the hat, but when it was released, I was very excited... excited enough to do this quest every day (excepting a few misses) for a nearly a year trying to get this hat.
No luck, WotLK rolled around, I kept trying to get the hat occasionally, I'd say 3-4 times per week until the WotLK fishing daily was released, then I started doing BOTH dailies every day (missing occasionally) until about 7 months before Cataclysm release. Still no luck and I took a 10 month hiatus.
Came back to WoW when Cataclysm came out, now I've been doing all THREE dailies every day trying to get this hat. Since I want it to be able to fish without using lures, I've decided I don't care which toon I get it on, so I've started doing the quests on FOUR different toons.
STILL. NO. F>_<ING. HAT.
I'm starting to question my sanity at this point. I'm afraid to actually count up the days of doing these quests, number of repetitions or time spent, but I'm pretty sure I'm WELL over the 500 repetition mark and it feels like thousands. I feel like I'm chasing some ghost hat that doesn't exist.
-EDIT-
Got the hat the next day after posting this. I usually go mad chasing after a random drop item, then complain about it, only to have it drop into my lap right after. I was hoping it would happen again this time, but didn't want to jinx it. :)
Thanks, ElsAnglin, for letting me blow off steam and unjinx myself. ^_^