There is an fishing pole in the waters below shadowprey village in desolace. It is hidden in the shellfish traps underwater. Shadowprey illage is in the southeast cirner of Desolace.
I cant remember the exact stats for the item cause my fishing is already at 300/300 so i sold it at the AH for 10g which was cool.
When you open a cage and it is empty then prepare to be attacked by a crab monster.
The cages respawn rather quickly so you will not be without anything to open.
There are other interseting items in the cages too like Hand Stitched Sandas and mail boots and such so even if you dont find the pole you still got something from the trip.
Most of these shellfish will have the obvious loot of shellfish that i have no idea what to do with cause i cant sell them to a vendor.
The only thing i hate about finding it is that it minght take a few minutes if your lucky and might take an hour or 2.
You really only need to worry about drowning!!! Fear not!!! There are things called Bubbly Fissures on the sea floor all over this area that allow you to regain your breath!!
I would reccomend this activity for lvl 37 and up cause most of the crab monstrs here are lvl 34-38.
There are also the occasional horde players there in groups trying to find it as well and they are usually in groups of 2 or 3 making the job bit easier. Enjoy!!!
Im sure people appreciate your posting. But this is out of date too.
Best pole is from Northrend, needs exalted status with the Kaluak (you can easily get to revered by doing their quests in Borean Tundra, Dragonsblight and Howling Fjord, the rest can be done by 3 dailies, one in each area). It gives +30 fishing and lets you breath underwater.
You can also get a similar +30 pole without the underwater breathing from Shattrath from the boy in the lower city, easy quest to do.
The one off shadowprey village as said above has +20 fishing to it and much more difficult to find.