I never found it challenging at all. This isn't the first time it's been available. All you have to do is bring a little bit of goldenfish bait (which isn't even necessary,) and then kill a Gobul. When it comes to fishing him out, you use a Frog, which is actually available in area 2, close to its exit to area 4. Worms are also available there.
Just have someone fish Gobul out right away, before anyone starts doing any fighting, and when he finally leaves the area, have two people fish for Goldenfish. Take the Goldenfish back, pick up the bait to replace what you used doing the quest, and go where the other people are fighting Gobul.
I can't remember if you need small goldenfish for the quest, though, but whenever I ever needed any, I just brought them with me. This isn't a quest where you get any exclusive items, so there's no reason to spend much time bothering with it unless you want to just have an extra quest option.