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Got mine about a minute after the Icecrown server came up from maintenance today at 12:01PM (MST). The one I got was common and was just south of Silent Vigil.
I had never even seen one before today, logging in right after the maintenance downtime, so the server reset advice seems to be completely valid. You have to be quick though, after trapping mine there were like 7 or 8 other people zooming overhead snatching up spawns.
I finally trapped this little booger last night around 10:00PM on Spirestone as a common quality!
I honestly believe it is all a matter of luck with this guy. No rarespawn was up, critters werent killed (two Tainted Rats were right beside him), not a particularly special time of day, etc... Other than the fact that he spawned NE of the big group of craters, (~46,38) it was just a right place, right time situation.
Good luck guys...he does exist! :o)